Which of the following is a term referring to those already working for the firm as “insiders” who know the procedures, while the other workers who are recent or prospective hires are “outsiders”?
a. insider-outsider theory
b. insider-outsider argument
c. insider-outsider contract
d. insider-outsider model
d. insider-outsider model
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Suppose firms in Hong Kong can produce 40,000 plastic dolls or 80,000 squirt guns each week, while firms in Taiwan can produce 40,000 plastic dolls or 40,000 squirt guns each week. Therefore
A) People in Hong Kong sacrifice two dolls for every squirt gun produced. B) People in Taiwan sacrifice two dolls for every squirt gun produced. C) People in Hong Kong sacrifice 2 squirt guns for every doll produced. D) none of the above are true.
Which of the following is a CORRECT statement?
A) Producer surplus is an external benefit. B) Consumer surplus is an external benefit. C) A government subsidy paid to a producer is an external benefit. D) None of the above statements are correct.
The Ricardian notion that of diminishing returns implies that
a. as more input is used more output will be made. b. as more input is used less output will be made. c. as more input is used the increase in output will increase. d. as more input is used the increase in output will decrease.
If the potential money multiplier in the U.S. is 4, then a simple $1 increase in demand deposits—say a young child opening up her very own checking account—can potentially create demand deposits (including the child's $1) of
a. $40.00 b. $4.00 c. $2.50 d. $0.40 e. $0.25