Seth is a surgeon who goes to Cambodia each summer and donates two weeks of his time to local hospitals. From an economic standpoint, utility is gained by:
A. Seth's patients.
B. Seth, knowing he is doing a good deed.
C. Seth, knowing the local paper writes a story about his trip every time he comes home.
D. All of these are true.
D. All of these are true.
You might also like to view...
If the nominal interest rate is 0.6 percent and the rate of inflation is 2.9 percent in a given year, then what is the corresponding real rate of return?
A) 3.5 percent B) 2.3 percent C) -3.5 percent D) None of the above.
XYZ Co operates in a competitive market. Its production function is q = L?K?. The exponents, ? and ?, are both less than one. The firm's capital is fixed, and it takes the wage and price as given
Derive the firm's short-run demand for labor as a function of K, w, and p. How does the firm react to an increase in the wage rate?
Refer to the information provided in Table 21.9 below to answer the question(s) that follow. Table 21.9
Refer to Table 21.9. Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 1 is
A. 1. B. 100. C. 110. D. 111.
Suppose that the price of compact disks (CDs) increases, other things equal. Which of the following in the most likely effect in the market for DVDs?
a. a decrease in demand for DVDs b. an increase in demand for DVDs c. an increase in quantity demanded of DVDs d. a decrease in quantity demanded of DVDs e. a decrease in the quantity supplied of DVDs