A person who chooses not to be in the labor force reveals that
A. either leisure or the value of nonpaid labor is worth zero to him.
B. either leisure or the value of nonpaid labor is worth less to him than the value that society places on his potential product in the market.
C. either leisure or the value of nonpaid labor is worth more to him than the value that society places on his potential product in the market.
D. his potential product in the market is zero.
Answer: C
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Let MC be the marginal private cost per megawatt hour (Mwh) of producing electricity using coal. Let MSC be the marginal social cost per Mwh and T be the tax per Mwh. To achieve efficiency, the tax should be set so that
A) MC = MSC + T. B) MSC = MC + T. C) MC + MSC = T D) MC = T.
Which of the following acts as a hostage for employees to behave well?
A) on-site childcare where employees take their children while working B) performance bonuses C) training D) bonding
What is the present value of a payment of $100 to be made one year from today?
a. $100(1 + r) b. $100/(1 + r) c. $100 - $100 r d. $100 - (1 + r)/$100
A tariff on a good _________ its price.
Fill in the blank(s) with the appropriate word(s).