The entry of women into the workforce since the 1960s resulted in:
A. A shift outward in the production possibilities curve of the United States
B. A shift inward in the production possibilities curve in the United States
C. A movement along the existing production possibilities curve in the United States
D. A falling real wage for women workers of the United States
A. A shift outward in the production possibilities curve of the United States
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The economizing problem is essentially one of deciding how to make the best use of
A. unlimited resources to satisfy limited economic wants. B. limited resources to satisfy limited economic wants. C. limited resources to satisfy unlimited economic wants. D. unlimited resources to satisfy unlimited economic wants.
In the two-period model, the budget constraint is kinked for all of these reasons, except
A) the real interest rate is greater than zero. B) there are costs to banks from lending and borrowing. C) there is asymmetric information in the credit market. D) there is limited commitment in the credit market.
A profit-maximizing entrepreneur will produce and sell an additional unit of output as long as
a. it lowers the firm's unit costs. b. it lowers the firm's marginal cost. c. it adds more to revenue than it adds to cost. d. there is additional plant capacity to produce.
What are key economic variables that economists use to predict a new phase of a business cycle referred to as?
(A) Economic growth (B) A recession (C) A contraction (D) Leading indicators