Low-wage manufacturing industries exhibit which of the following?
(a) Low output per worker
(b) Added value that rises above labor's share of total employment
(c) Highly educated and skilled workers
(d) All of the above
(a)
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Bill purchases property insurance for his office building, which includes coverage for fire damage. The policy offers premium discounts for smoke detectors, fire alarms, fire extinguishers and sprinkler systems
This is an incentive system to help avoid A) adverse selection. B) moral hazard. C) optimal-stopping. D) none of the above
Steve and Craig have been shipwrecked on a deserted island in the South Pacific. Their economic activity consists of either gathering pineapples or fishing. Steve can catch 4 fish in 1 hour or harvest 2 baskets of pineapples. At the same time, Craig can
reel in 2 fish or harvest 2 baskets of pineapples. If they each spend four hours a day fishing and four hours a day harvesting pineapples, what will their total production be? If Steve only catches fishes and Craig only harvests pineapples, how will total production change?
At any given time, the voting members of the Federal Open Market Committee include
a. five of the presidents of the regional Federal Reserve banks. b. the president of the Federal Reserve Bank of New York. c. the seven members of the Board of Governors. d. All of the above are correct.
A recession is when GDP is falling toward a trough.
a. true b. false