A rise in the wage rate would lead to a movement
A. down the MRP curve and a rise in the number of workers hired.
B. down the MRP curve and a decline in the number of workers hired.
C. up the MRP curve and a decline in the number of workers hired.
D. up the MRP curve and a rise in the number of workers hired.
C. up the MRP curve and a decline in the number of workers hired.
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What is a gold standard?
What will be an ideal response?
Gabby flips a fair coin and it shows heads. When trying to guess what the coin will show on the next flip, Gabby guesses heads because she thinks it is more likely to occur than tails since the coin showed heads on the last flip. Gabby suffers from the:
A. gambler's fallacy. B. gambler's myth. C. hot-hand fallacy. D. hot potato fallacy.
A country can attempt to increase its capital stock by
a. shifting resources away from capital goods toward consumer goods b. shifting resources away from human capital goods toward physical capital goods c. shifting resources away from consumer goods toward capital goods d. shifting resources away from physical capital goods toward human capital goods e. shifting resources away from consuming tomorrow toward consuming today
Consider a consumer who is searching for the lowest price for good X. The consumer knows that 75 percent of the time she will find a store charging $10 and 25 percent of the times she will find a store charging $7. The expected benefit from an additional search is:
A. $0. B. $2.25. C. $3. D. $0.75.