Which of the following would not shift a market labor supply curve to the left?
a. an increase in the wage paid to workers in a competing market
b. labor-saving technology
c. a change in worker tastes so that workers want to retire earlier
d. an increase in immigration
d
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Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. A bundle of goods that Country B could potentially make would be:
A. (400 iPods, 2,000 tablets). B. (300 iPods, 500 tablets). C. (200 iPods, 1,500 tablets). D. (100 iPods, 2,000 tablets).
Suppose that 90 percent of women who are Krista's age do not have high cholesterol and 10 percent do. If a cholesterol test indicates that Krista has high cholesterol, but the test is only accurate 80 percent of the time, then the probability that Krista really does have high cholesterol is roughly:
A. 80 percent. B. 18 percent. C. 90 percent. D. 31 percent.
Absolute advantage occurs when one producer has greater productivity compared to another producing the same product.
Answer the following statement true (T) or false (F)
Differences in the interpretation and the enforcement of antitrust laws are in part rooted on the issue of focus. One such issue pertains to question of whether the policy focus should be on:
A. Domestic firms versus multinationals B. Intra-state trade versus inter-state trade C. Monopoly output versus monopoly pricing D. Monopoly behavior versus monopoly structure