Which of the following statements is true?
A) Cost-benefit analysis does not yield the same result as optimization analysis.
B) A rational economic agent is not likely to optimize.
C) Cost-benefit analysis can also be used for normative economic analysis.
D) The net benefit of an option that costs $50 and provides a benefit of $100 is equal to $150.
C
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One is ________ likely to invest in human capital the ________ the person's rate of time preference
A) most; higher B) less; lower C) more; lower D) least; lower
When China embarked on market changes towards urbanization and manufacturing in 1978, urban disposable incomes were 2.6 times greater than rural net income. By 2008 they were 3.3 times bigger
Which of the following have the market changes sketched above have most likely NOT caused? A) Increased income inequality between rural and urban populations B) A movement towards a bell-shaped distribution of income C) An increased Gini ratio D) The Lorenz curve for income to move further away to the line of equality
Labor productivity in the United States has: a. been growing at ever-increasing rates since World War II
b. been growing but at lower rates in the last 25 years compared to the 25 years immediately after World War II. c. been falling for the last 50 years. d. remained largely unchanged over the last 50 years. e. been growing more rapidly in the last 50 years than in most other developed economies.
The typical workweek of a U.S. worker has fallen over the last century from about:
a. 50 hours per week to less than 40 hours per week. b. 60 hours per week to less than 40 hours per week. c. 40 hours per week to less than 30 hours per week. d. 70 hours per week to less than 60 hours per week.