Refer to the table below. According to the table, Martha has the absolute advantage in: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. both pies and cakes.
B. cakes.
C. pies.
D. neither pies nor cakes.
Answer: D
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Suppose three neighbors must vote on the installation of a traffic light that costs $210. The cost of the light will shared by all three
Voter A values the light at $50; voter B values the light at $50; and voter C (who drives the most) values the light at $200. If the voting rule is that the majority wins, does the light get purchased? Is it efficient to purchase the light?
Ceteris paribus, a change in the quantity supplied along the supply curve of Braun coffee makers is:
a. directly related to the price of a Morphy Richards coffee maker. b. directly related to the price of milk and cream. c. directly related to the prices of inputs used in the production of Braun coffee makers. d. directly related to changes in the technology used in producing coffee makers. e. directly related to the price of a Braun coffee maker.
The negotiation process between an employer and a union is described as collective bargaining
Indicate whether the statement is true or false
How are the following three questions related: 1) Do all demand curves slope downward? 2) How do wages affect labor supply? 3) How do interest rates affect household saving?
a. They all relate to macroeconomics. b. They all relate to monetary economics. c. They all relate to the theory of consumer choice. d. They are not related to each other in any way.