Country tends to grow faster when
a. Have more greater college graduates
b. Less trade with the world
c. Government restricts direction
d. Savings and investments decreases
e. Stock on physical capital
a. Have more greater college graduates
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A chain saw is an example of which of the following factors of production?
a. Land. b. Labor. c. Capital. d. None of these.
Which of the following is correct?
a. There is consensus among economists that unions are good for the economy. b. There is consensus among economists that unions are bad for the economy. c. There is consensus among economists that, on net, unions have almost no impact on macroeconomic variables. d. There is no consensus among economists about whether unions are good or bad for the economy.
Which of the following does not affect the marginal physical product of labor?
A. A worker’s abilities and degree of work effort B. The amount of capital available per worker C. The technical know-how of the management of the firm D. An increase in wages
What is moral hazard?
A. Using prices to ration goods and services B. Using waiting times to ration goods and services C. The effect of higher incomes on the demand for care D. The incentive, as a result of having insurance, to use additional care