Factor markets are markets where ______.
a. firms sell the use of their inputs to households
b. governments buy and sell the use of inputs and products
c. households sell the use of their capital, land, labor, and entrepreneurial ability to firms
d. firms purchase manufactured goods and technical services from individuals and government agencies
c. households sell the use of their capital, land, labor, and entrepreneurial ability to firms
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Research by Jonah Rockoff suggests that there is
A. no relationship between teacher performance and student achievements. B. a positive relationship between the number of teachers and class sizes. C. a positive relationship between teacher performance and student achievements. D. no relationship between the number of teachers and class sizes.
Refer to the following graph. The price of capital (r) is $20.
Why wouldn't the firm choose to produce 5,000 units of output with the combination at B?
A. At B, MRTS < 3/2.
B. At B, MPK / r >MPL / w.
C. At B, MPL
Which of the following integration types aims at reducing transaction costs?
A. Cointegration B. Vertical integration C. Conglomerate integration D. Horizontal integration
For this question, assume that a country experiences a permanent increase in its saving rate. Which of the following will occur as a result of this increase in the saving rate?
A) a permanently faster growth rate of output B) a permanently higher level of output per capita C) a permanently higher level of capital per worker D) all of the above E) both B and C.