The productivity of workers can depend upon which of the following?
A. Human capital
B. Natural resources
C. Technology
D. All of these are determinants of productivity.
D. All of these are determinants of productivity.
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Hilda buys only cauliflower, Qc, and geraniums, Qg. The equation for Hilda's initial budget line is $40 = $2 × Qc + $4 × Qg
If Hilda's income increases by $20, the price of cauliflower decreases by $1, and the price of geraniums increases by $1, the equation of her new budget line is ________. A) $60 = $1 × Qc + $5 × Qg B) $60 + $1 × Qc = $5 × Qg C) $0 = $60 + $1 × Qc + $5 × Qg D) $60 = $5 × Qc - $1 × Qg
When an economy is not in equilibrium,
A) planned expenditures exceed production and income. B) there is no savings nor investment. C) government tax revenues equal planned government expenditures. D) production and income equal planned expenditures.
A statement of opinion about which policy is best for America is
a. an abstraction b. a positive statement c. a normative statement d. a philosophical conundrum e. empirically verifiable
Consider two goods--one that generates external costs and another that generates external benefits. The actual market outcome would
a. result in output that is lower than the efficient output for both goods. b. result in output that is higher than the efficient output for both goods. c. result in output that is lower than the efficient output for the good with an external benefit and output that is higher than the efficient output for the good with an external cost. d. result in output that is higher than the efficient output for the good with an external benefit and output that is lower than the efficient output for the good with an external cost.