If Marie buys a sailboat, which increases the productivity of her leisure time, she
a. increases her productivity of nonmarket work
b. increases her productivity of market work
c. will spend less time in nonmarket work
d. will spend less time in leisure activities
e. will spend more time in market work to pay for the boat's maintenance
C
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An increase in saving that leads to more capital accumulation ________ labor productivity
A) increases B) does not change C) decreases D) probably changes but in an ambiguous direction
According to economists, when two people make exactly the opposite decision
A) one of them is acting irrationally. B) each person evaluates the situation according to his/her individual self-interest. C) one of them is acting out of spite. D) one of them should compromise.
In an exchange economy A's utility is given by UA = x + y and B's by UB = min[x, 2y]. The initial endowment for A is x = 10, y = 8 and for B, x = 8, y = 4 . To reach the contact curve, these individuals must:
a. trade 1x for 1y. b. trade 2x for 1y. c. trade 1x for 2y. d. do nothing, since they are already on the contract curve.
In the United States in 2014, the health care industry was the largest employer in ________ states.
A) 7
B) 27
C) 34
D) 48