Your professor loves her work, teaching economics. She has been offered other positions in the corporate world that would increase her income by 25 percent, but she has decided to continue working as a professor. Her decision would not change unless
a. the marginal cost of teaching increased.
b. the marginal benefit of teaching increased.
c. the marginal cost of teaching decreased.
d. the marginal benefit of a corporate job decreased.
A
You might also like to view...
In the 1980s, Howard was one of the best car phone repairmen in his area. After staying home in the 1990s and early 2000s to take care of his children, Howard wants to go back to work in the phone repair business. Which of the following can be said about Howard?
A. Because car phones are obsolete, Howard's human capital is less valuable. B. Howard's knowledge of how to repair car phones is obsolete, and his human capital is less valuable now than in 1980. C. Howard's ability to repair car phones represents an obsolete skill. D. All of these could be said about Howard.
The ratio of U.S. government spending to GDP reached its peak during:
a. World War I. b. World War II. c. the Great Depression. d. the real estate crisis. e. the bursting of the stock market bubble.
In oligopoly, one expects
a. frequent introduction of new or redesigned products. b. aggressive advertising campaigns. c. intense marketing research into the impact of price changes. d. All of the above are correct.
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.