Labor productivity increases when
A. capital/labor ratio decreases.
B. labor and output increase proportionately.
C. output decreases and labor increases.
D. capital increases and labor remains constant.
Answer: D
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In the United States, where do depository institutions hold their reserves?
A) either as vault cash or on reserve with Federal Reserve district banks B) All reserves must be held at a Federal Reserve district bank. C) in accounts with the U.S. Department of the Treasury D) in their own vaults in the form of precious metals such as gold and silver
For a regulated natural monopoly, an average cost pricing rule sets price equal to
A) average fixed cost. B) average total cost. C) average external cost. D) average variable cost.
The United States has imposed taxes on some imported goods that have been sold here by foreign countries at below their cost of production. These taxes
a. benefit the United States as a whole, because they generate revenue for the government. In addition, because the goods are priced below cost, the taxes do not harm domestic consumers. b. benefit the United States as a whole, because they generate revenue for the government and increase producer surplus. c. harm the United States as a whole, because they reduce consumer surplus by an amount that exceeds the gain in producer surplus and government revenue. d. harm the United States as a whole, because they reduce producer surplus by an amount that exceeds the gain in consumer surplus and government revenue.
Behavioral economics helps explain:
A. why being selfish is rational. B. why people are selfish. C. the degree to which people are altruistic. D. why people are rational.