The World View article titled "The Education Gap between Rich and Poor Nations" says that a greater percentage of people graduate from high school in rich nations than in poor nations. This investment in human capital can lead to
A. Lower labor quality.
B. Lower productivity.
C. Increased output per worker.
D. A bigger capital stock.
Answer: C
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The study of factors that contribute to the economic growth of a country is known as
A) savings economics. B) entrepreneurial economics. C) natural resource economics. D) development economics.
Happy Bagels sells its bagels for $6 each and the firm has a constant marginal cost of $4 per bagel, which is equal to its (constant) average total cost. If Happy Bagels does not sell a bagel the day it is produced, the bagel is sold as day-old for $2. If Happy Bagels is currently holding 50 bagels in inventory and the probability that Happy Bagels will sell 50 bagels or more is 0.60, which of
the following statements is true? A) To obtain the profit-maximizing, optimal level of inventory, Happy Bagels needs to increase its inventory. B) To obtain the profit-maximizing, optimal level of inventory, Happy Bagels needs to decrease its inventory by exactly one -half. C) To obtain the profit-maximizing, optimal level of inventory, Happy Bagels needs to decrease its inventory. D) Happy Bagels is holding the profit-maximizing, optimal level of inventory.
If the Internet makes it easier for sellers to find buyers and makes it easier for buyers to learn about the products that are available for sale, we would expect that
a. the volume of trade will decline. b. transaction costs will rise. c. the gains from trade will increase. d. buyers and sellers will be worse off.
What is the percentage of income received by the middle three quintiles on line Z?
