Jen is a waitress, and she gets paid an additional $2.00 per hour for agreeing to work on Valentine's Day. Jamie is also a waitress, but she did not work on Valentine's Day and hence did not get the extra $2.00 per hour. This difference in pay is an example of differences in human capital
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Scenario 17.5. Under which of the following payment schemes would workers have an incentive to exert high effort?
A) A guaranteed wage equal to $0 B) A guaranteed wage equal to $5000 C) A guaranteed wage equal to $10,000 D) A wage equal to the income earned, minus $4000 E) A wage equal to $0 if revenue is $5000, $2000 if revenue is $7000, and $8000 if revenue is $13,000
Suppose European incomes increase annually by 4 percent per year, and as a result, U.S. farm exports to Europe rise by 2 percent annually. The U.S. farm exports are
A. Substitute goods. B. Inferior goods. C. Normal goods. D. Price-elastic.
What type of international economic linkage would be illustrated by the export of a Boeing aircraft to Saudi Arabia?
A. Trade flow B. Resource flow C. Financial flow D. Information flow
In classical growth theory, if real GDP per person is above the subsistence level,
A) population grows and lowers real GDP per person to its subsistence level. B) the pursuit of profit will cause economic growth to accelerate. C) technological growth occurs and keeps real GDP per person above its subsistence level. D) the economy will keep growing without limit. E) None of the above is correct because the classical growth theory asserts that real GDP per person can never exceed the subsistence level.