Mr. Paque is a bear hunter for timber companies that want to diminish damage to trees done by bears in the spring. Due to a reduction in the bear population between 1995 and 2005, Mr. Paque finds fewer bears each year and additional hours spent hunting produce fewer additional bears. This means that Mr. Paque's (i) overall productivity has fallen; (ii) marginal product has fallen
a. i and ii
b. i not ii
c. ii not i
d. neither i nor ii
a
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On a graph we draw a consumer's budget constraint, measuring the number of pineapples on the horizontal axis and the number of pencils on the vertical axis. If the slope of the budget constraint is -6, then
a. a pineapple costs six times as much as a pencil. b. the opportunity cost of a pineapple is 6 pencils. c. the opportunity cost of a pencil is one-sixth of a pineapple. d. All of the above are correct.
Refer to the graph shown.
The diagram demonstrates that an increase in the price of soda will:
A. raise the quantity demanded of chocolate bars. B. reduce the quantity demanded of soda. C. raise the quantity demanded of soda. D. raise the consumer's available income.
A $2,000 decrease in investment will shift the aggregate expenditures curve down by:
A. exactly $2,000 and will decrease the equilibrium level of real GDP by exactly $2,000. B. exactly $2,000 and will decrease the equilibrium level of real GDP by less than $2,000. C. exactly $2,000 and will decrease the equilibrium level of real GDP by more than $2,000. D. less than $2,000 and will decrease the equilibrium level of real GDP by less than $2,000.
Capital inflows are desirable because they increase investment in a country
Indicate whether the statement is true or false