Saving and investment that increase a nation's capital lead to
A) slower growth because there is a lack of consumption.
B) a decrease in labor productivity as capital is used to replace labor.
C) a decrease in the amount of capital per worker.
D) an increase in labor productivity.
D
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Armpit Homunculus Prescott Pharmaceuticals is facing class action suit over side effects caused by its latest growth supplement. The lawyers representing the class are asking $200 million because they claim Prescott knew about and hid the fact that the
supplement caused Armpit Homunculus. Prescott claims it had no foreknowledge of this and can take their chance at trial where they expect a $50 million payment. Just before the trial date, an internal Prescott email is discovered in which Dr. Colbert, D.F.A. is joking about "how hideous the armpits will be on all these giants.". How does this affect the likely cost of settling the case?
Societies in which _____ produce more entrepreneurs
a. the ratio of immigrants to the local population is high b. culture supports individual achievements c. individuals are self-interested d. immigrants are allowed to hold government positions e. immigrants are more intelligent than the local population
The Coase theorem asserts that the private market will always solve the problem of externalities and allocate resources efficiently
a. even if private parties experience substantial costs of bargaining. b. even if the initial distribution of legal rights is skewed in favor of some private parties over others. c. only when there is a large number of private parties that engage in bargaining. d. All of the above are correct.
Which of the following is one of the reasons economists sometimes differ in their views on social policy?
A. Different models focus on the same aspects of a problem. B. Economists' subjective value judgments will differ. C. Empirical evidence is so precise that there is little room for different interpretations. D. Most so-called economists have received no formal training.