The big-push theory argues that coordination failures may arise because of
a. pecuniary externalities.
b. technological externalities.
c. lack of human capital.
d. all of the above.
A
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Which of the following factors is not relevant in explaining the persistence of wage differentials?
A. Labor immobility. B. Compensating differences. C. Free public education. D. Noncompeting groups.
The labor force is the sum of
A) employed workers and discouraged workers. B) employed workers and unemployed workers. C) employed workers and individuals not looking for work. D) unemployed workers and the working-age population.
Capital deepening refers to: a. an increase in the amount of capital per worker
b. an increase in the amount of workers per unit of capital. c. a decrease in the amount of capital per unit of output. d. an increase in the amount of output per unit of capital. e. an increase in the productivity of capital.
If a firm experiences economies of scale, then, as output increases,
a. short-run total costs decline b. long-run total costs rises proportionately more than output c. short-run marginal cost must decline d. long-run total cost rises proportionately less than output e. demand increases