If the capital-labor ratio is below the steady-state value, investment is ________ than break even investment, and the capital-labor ratio ________
A) greater; increases
B) greater; decreases
C) less; increases
D) less; decreases
A
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Refer to Figure 2-6. If the economy is currently producing at point E, what is the opportunity cost of moving to point D?
A) 10 thousand hammers B) 8 thousand wrenches C) 13 thousand hammers D) 0 wrenches
When marginal utility is positive and increasing, then
a. total utility must be negative. b. total utility must be increasing at an increasing rate. c. total utility must be increasing at a decreasing rate. d. total utility is decreasing. e. total utility is at its maximum point.
_______________ have been unable to organize a union in any of the foreign-owned factories owned by Honda, Toyota, and Nissan.
A. The United Autoworkers B. The National Education Association C. The International Brotherhood of Teamsters D. The Service Employees International Union
A public good will:
A. be efficiently provided by the free market as long as its total benefits exceed its total costs. B. be efficiently provided by the free market as long as its marginal benefits exceed its marginal costs. C. be provided in less than efficient quantities by the free market. D. be provided in efficient quantities by voluntary contributions.