The smallest productivity gains from colonial shipping were from:
a. shorter layover times in ports.
b. lower insurance rates.
c. the increased speed of the ships.
d. fewer wars.
c. the increased speed of the ships.
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Consider two scenarios for a nation's economic growth. Scenario A has real GDP growing at an average annual rate of 2%; scenario B has an average annual growth of 4%. The nation's real GDP would double in about
A. 36 years under scenario A, versus 18 years under scenario B. B. 36 years under scenario A, versus 9 years under scenario B. C. 18 years under scenario A, versus 9 years under scenario B. D. 25 years under scenario A, versus 12.5 years under scenario B.
In some cases, social regulation may alter individuals' behavior. For example, there is evidence to indicate that as more automobile safety regulations have been introduced, more individuals have begun to drive recklessly
This phenomenon is known as A) the feedback effect. B) the share-the-gains effect. C) the share-the-pains effect. D) the capture effect.
When it is cheaper for one firm to produce a number of different commodities together than it is for a group of small firms to produce those commodities, ____ exist(s).
A. economies of scale B. economies of scope C. diminishing marginal returns D. marginal cost pricing
Straight line pay for performance
a. Provides an incentive to increase performance b. Breaks the link between meeting a particular budget target and compensation c. Rewards the manager for doing more and punishes them for doing less d. All of the above