Suppose medical research provides evidence that eating bananas provides far greater health benefits than was previously thought. The resulting increase in the demand for bananas
a. increases the marginal product of banana pickers for any given number of banana pickers.
b. increases the value of the marginal product of banana pickers for any given number of banana pickers.
c. increases the supply of banana pickers.
d. All of the above are correct.
b
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The sale and purchase of goods and services across national borders is known as _____.
a. entrepreneurship b. importing c. trade d. exporting e. angel investing.
Boeing and Airbus have entered into a cartel agreement that will enable them to boost their profits. What occurs if Boeing decides to cheat on the agreement?
i. Boeing lowers the price of its airplanes. ii. The total industry output increases. iii. The total profits in the airplane industry will decrease. A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
Consider two projects. The first project pays benefits of $90 today and nothing else. The second project pays nothing today, nothing one year from now, but $100 two years from now. Which project would be preferred if the discount rate were 0%? What if the rate increased to 10%?
What will be an ideal response?
Critics of government-run employment agencies and public training programs argue that the private market is better at matching workers and jobs than the government is
a. True b. False Indicate whether the statement is true or false