Profit-maximizing level of output
A. is OR.
B. is OS.
C. is OT.
D. None of the choices are correct.
C. is OT.
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Economists have noted that businesses of a certain type tend to congregate geographically, attracting workers with skills in those fields. This, in turn, lures more firms seeking employees with those skills
Some examples include commercial banking, software development, and the automobile industry. What mechanism is at work here? Briefly explain how the mechanism works to the advantage of employers and employees.
Convert each of the following basis points amounts to percents:a) 412.5b) 10c) 125.7d) 1075e) 1
What will be an ideal response?
Robert Summers and Alan Heston published data for 130 countries that used purchasing power parity, rather than market exchange rates, to compare GDP across countries. As a result, measured per capita incomes of developing countries rose relative to per capita incomes in developed countries. This is most likely because:
A. nonmarket activity is less extensive in developing countries than in developed countries. B. prices of standard goods in developing countries are generally higher than those in developed countries. C. nonmarket activity is more extensive in developing countries than in developed countries. D. prices of standard goods in developing countries are generally lower than those in developed countries.
Related to the Economics in Practice on p. 550: In the simple "Keynesian" view, maximum output is not defined by the
A. current capital stock. B. existing state of technology. C. existing labor force. D. level of consumption.