If the law of diminishing marginal product holds true and workers emigrate from Haiti, the marginal product of the workers remaining in Haiti will:
A. fall because fewer workers are working with the same amount of capital.
B. fall because more workers are working with the same amount of capital.
C. rise because fewer workers are working with the same amount of capital.
D. rise because more workers are working with the same amount of capital.
Answer: C
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Generally, managed care means
A. health care is provided by teams, not by an individual doctor. B. limits are placed on utilization of health care services. C. health care is provided by the government to all citizens. D. doctors pick which patients they want to see.
Suppose Montesia, with a per capita GDP of $100,000 . grows at a rate of 3% per year and Argonia, with a per capita GDP of $2,000 . grows at a rate of 8% per year. The gap between the per capita GDPs of Argonia and Montesia will be _____ after 2 years
a. $103,680 b. $25,897 c. $562,320 d. $35,365
Daily Output of Russia and Panama?RussiaPanamaGloves 40240Hats120180
Refer to Table 18.1. Mutually beneficial terms of trade between Russia and Panama would be:
A. 1 hat for 2 gloves. B. 1 glove for 6 hats. C. 5 gloves for 3 hats. D. 1 hat for 1 glove.
Firms in a perfectly competitive industry are earning economic losses. This is
A) a signal to entrepreneurs that some of the firms in the industry should exit and the resources of these firms should move into production of other goods. B) a signal to entrepreneurs that additional resources should be brought into this industry in order to make it profitable. C) a signal that the entrepreneurs are doing a poor job and should become workers for someone else. D) a signal to government officials that a subsidy is needed for the firms in the industry.