College education is an example of a positive externality.
A. True
B. False
C. Uncertain
C. Uncertain
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If a meat packing plant has 30 employees, each employee has a 1 in 90 chance of getting injured on the job, and the cost of treating a job-related injury is $18,000, then the annual cost per injury for each employee is
A) $6.67. B) $200. C) $600. D) $6,000.
Which of the following will increase the yield on a bond?
a. a reduction principal b. an increased risk of default c. an increase in the bond's price d. a reduced risk of default e. none of the above
For each watch Denmark produces, it gives up the opportunity to make 50 pounds of cheese. Germany can produce one watch for every 100 pounds of cheese it produces. Which of the following is true with regard to opportunity costs in the two countries?
a. The opportunity cost of producing watches is higher in Denmark. b. The opportunity cost of producing cheese is higher in Denmark. c. The opportunity cost of producing cheese is identical in both countries. d. It is impossible to compare opportunity costs because the two countries use different currencies. e. In both countries combined, the opportunity cost of one watch is 150 pounds of cheese.
The difference between capitalism and mercantilism is that under capitalism:
A. industrialists' views are represented by craft guild organizations. B. the state plays a more active role in coordinating economic activity. C. craft guilds rather than merchants own capital. D. the invisible hand is more important than the government.