To increase productivity,
A. Capital spending must increase at the same pace as the labor force expands.
B. Capital spending must be greater than zero.
C. Capital spending must increase faster than the labor force expands.
D. The labor force must grow faster than capital spending increases.
Answer: C
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Refer to Figure 13.2. The technical name given to Alice, based on her position in the figure, is the
A) election moderator. B) median voter. C) irrelevant alternative. D) strategic voter.
The marginal cost to the phone company of handling a long distance call is likely to be
A) higher the fewer such calls people make. B) higher the more the phone company has invested in equipment. C) substantially less than the price charged for the call. D) substantially more than the price charged for the call.
Keeping in mind the Coase theorem, in the figure above if the pesticide factories own the lake, how much pesticide is produced?
A) 300 tons per month B) 240 tons per month C) 180 tons per month D) 360 tons per month
Statistical discrimination:
A. can be a rational response to information asymmetry. B. is not always a legal solution to information asymmetry. C. can limit the opportunities of individuals just because they happen to belong to a certain group of people. D. All of these statements are true.