The price of input goods changes due to _____________ or _______________ for that particular good.
Fill in the blank(s) with the appropriate word(s).
Answer: outside effects, underlying market forces
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Which of the following environmental problems are largely caused by persistent poverty?
(a) Deforestation. (b) Soil erosion. (c) Ground water contamination. (d) All of the above.
The accompanying table below shows how total donations, average donations, total labor costs and average labor costs vary depending on the number of employees State U hires for its fundraising activities. Number of EmployeesTotal DonationsAverage DonationsTotal Labor CostsAverage Labor Costs1$30,000 $8,0002$42,426 $17,000 3 $17,321$27,000 4$60,000 $9,5005 $13,416$50,000 The President of State U decides to hire fundraising employees as long as their average benefit exceeds their average cost. This results in ________ employees being hired and a net benefit (total donations minus total labor costs) of ________.
A. 4; $60,000 B. 5; $67,080 C. 4; $22,000 D. 5; $17,080
The law of increasing costs means that when an economy increases the production of one item:
a) the opportunity cost goes up b) the actual cost of making the item goes down c) the actual cost goes up but the opportunity cost goes down d) the production costs will increase alot
Assume a study indicates that attending a class on blackjack strategy improved average winnings by 50 percent. If the null hypothesis is true and the p-value for the 50 percent improvement in winnings is 0.04, then there is a ________ chance of improving your blackjack winnings by 50 percent.
A. 0.2% B. 0.4% C. 4% D. 20%