Compensating wage differentials explain some income differences
a. True
b. False
Indicate whether the statement is true or false
True
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The ability to read, write, and run calculations are examples of human capital.
Answer the following statement true (T) or false (F)
Compensation of losers from opening an economy to international trade is not common because:
A) losers don't lose so much that they would require to be compensated. B) the loss is made up through the availability of a wider array of goods and services. C) it is difficult for governments to carry out such compensation policies. D) the government will have to transfer huge amounts of money to compensate losers.
Suppose than an economy has output Y = A , that Y equals $42 trillion, capital K is $64 trillion, and labor L is 125 million workers. Given this information, what is the closest approximation of total factor productivity A?
A) less than 0.01 B) around 0.25 C) roughly 0.33 D) close to 0.4 E) exactly 144
Which statement is the false?
A. Advertising will tend to shift the demand curve for the product to the right. B. The goal of advertising is the make a firm's demand curve less elastic. C. Advertising campaigns attempt to convince the consumer that the product is unique and a necessity. D. Advertisers go to great lengths to build brand loyalty, thereby making the demand for their products more elastic.