For given inputs of labor and capital, if technology is more primitive, labor productivity will be
a. higher.
b. lower.
c. unchanged.
d. characterized by increasing returns to scale.
b
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If there is a surplus of a good, the quantity demanded is ________ the quantity supplied and the price will ________
A) equal to; fall B) less than; rise C) less than; fall D) greater than; fall E) greater than; rise
The opportunity cost of choosing an alternative
a. is the value of the highest valued alternative forgone as the result of the choice. b. includes only the amount of time spent on whatever is chosen. c. includes only the money cost of the option. d. is irrelevant for most choices individuals face.
Which of the following is NOT commonly regarded as an emerging nation?
A. India B. China C. Bangladesh D. Mexico
Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. The ________ from this payroll tax are $3,500.
A. total tax collections B. total wage saving C. total cost to workers D. total cost to employers