Labor mobility was
A) less in 1900 than in 2010.
B) unimportant to global integration until the 1960s.
C) greater in 1900 than in 2010.
D) never controversial.
E) a brand new feature of the global economy in the twenty-first century.
C
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Do policy makers know the level of unemployment that is associated with “full employment”?
A. Yes, economists have the precise level of unemployment that is full employment. B. Yes, although there is a small range of uncertainty in this measure. C. No, economists have no idea what this level of unemployment is. D. No, this number is not known with complete accuracy.
If a country is characterized by low life expectancy, low adult literacy, and low per capita energy consumption, it is likely:
A. an IAC. B. an LDC. C. neither an IAC nor an LDC. D. either an IAC or an LDC.
Which of the following is true?
A. Perfect equilibrium and Nash equilibrium are the same concept but with different names. B. A Nash equilibrium is always perfect. C. A Nash equilibrium is always perfect in a multistage game. D. A perfect equilibrium is always Nash.
If Valerie purchases ankle socks at $5 and gets 25 units of marginal utility from the last unit, and bandanas at $3 and gets 12 units of marginal utility from the last bandana purchased, she
A) is maximizing total utility and does not want to change her consumption of ankle socks or bandanas. B) wants to consume more ankle socks and fewer bandanas. C) wants to consume more bandanas and fewer ankle socks. D) wants to consume less of both ankle sock and bandanas.