Which of the following would be an example of capital deepening?
(A) Laying off employees when a factory is modernized.
(B) Moving a manufacturing plant overseas where labor costs are lower.
(C) Paying for an employee to take college courses.
(D) Permitting two workers to share one job.
Ans: (C) Paying for an employee to take college courses.
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A situation in which a single individual can provide a public good is known as
A) a monopoly. B) the volunteer's dilemma. C) eminent domain. D) diffusion of responsibility.
Which of the following would be considered a "leisure" activity by economists?
A. Mopping the floor at McDonald's for minimum wage B. Mopping your kitchen floor C. Folding sweaters while working at the Gap D. None of these activities would be considered leisure.
In an economy, 180 million workers are employed out of a labor force of 200 million and a total population of 310 million. The unemployment rate is:
a. 3.1 percent b. 1.85 percent c. 10 percent d. 5 percent
Exhibit 12-3 Income for two persons NameIncome Meredith$124,000 Hillary$ 45,000 In Exhibit 12-3, if the income tax system is currently proportional, we know that:
A. Meredith would probably prefer a progressive income tax system while Hillary would probably prefer a regressive income tax system. B. Meredith and Hillary would both probably prefer a regressive income tax system. C. Meredith and Hillary would both probably prefer a progressive income tax system. D. Meredith would probably prefer a regressive income tax system while Hillary would probably prefer a progressive income tax system.