The ________ claims that the way societies have organized themselves and shaped the incentives of individuals and businesses are at the root of the differences in prosperity across the world
A) location hypothesis B) geography hypothesis
C) institutions hypothesis D) culture hypothesis
C
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The intertemporal substitution effect of the price level on aggregate demand
A) is the same as the real wealth effect. B) is one reason that the aggregate demand curve has a negative slope. C) explains why aggregate demand increases when the amount of money increases. D) is one reason that the aggregate demand curve has a positive slope.
When can a grim trigger prevent oligopolists from breaking an agreement?
On average, electricians who work on dangerous high-voltage power lines earn more per hour than similarly skilled electricians who don't work on dangerous high-voltage power lines. The difference in pay is attributed to
a. the marginal product of labor. b. the marginal product of capital. c. diminishing marginal returns. d. a compensating differential.
Which of the following is an opportunity cost of attending college?
A. the income you could have earned if you didn't attend college B. the education you gain from attending college C. the cost of the food that you consume while you are attending college D. the cost of your apartment or dorm