An individual's decision to supply her labor or to spend her time in leisure activity is known as the labor-leisure tradeoff
a. True
b. False
Indicate whether the statement is true or false
True
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If the cost of capital increased to 25%, does the firm invest in the printer?
a. Yes because the NPV>0 b. Yes because the NPV=0 c. Need information on the marginal benefits and costs d. No because the NPV<0
Investments in both physical and human capital enhance economic growth because they:
A. increases consumption during the current period. B. makes it possible for individuals to produce more goods and services per hour worked. C. encourages firms to expand output by employing more low-productivity workers. D. encourages workers to unionize and, thereby, fight for higher wages.
Which of the following would be an example of case-based payment?
A. Four-tier pharmacy formularies B. Copayment waivers for primary care services C. Medicare DRGs D. All of the above
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.