Explain the pattern seen between GDP per person and quality of life measures such as life expectancy, literacy, and Internet usage
They are closely associated; countries with high GDP per person have high quality of life measures, while countries with low GDP per person have low quality of life measures
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Hold the prices of goods, as well as Amy’s preferences, constant. If Amy’s income increases, then
a. both her indifference curves and budget constraint change. b. her indifference curves change, but her budget constraint does not change. c. her budget constraint changes, but her indifference curves do not change. d. neither her indifference curves nor her budget constraint change.
All of the following are considered to be unemployed EXCEPT
A) job leavers. B) discouraged workers. C) job reentrants. D) new job entrants.
Compensating differentials are differences in wages related to the characteristics of a job
a. True b. False Indicate whether the statement is true or false
Refer to the diagram, assuming that the firm represented is operating on curve TC 0 . What is the user cost of extracting a unit of this resource?
A. $20.
B. $40.
C. $60.
D. It cannot be determined with the information given.