An increase in the quantity of capital per worker would:
a. rotate the per-worker production function outward
b. rotate the per-worker production function inward.
c. shift the per-worker production function downwards.
d. shift the per-worker production function upwards.
e. result in a rightward movement along the current per-worker production function.
e
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Which of the following is not a negative externality?
a. smog b. noise pollution c. substandard housing d. majority voting
Which of the following countries has had the more successful transition?
a. Poland b. Russia c. Kazakstan d. Georgia e. Kyrgystan
According to Adam Smith, the "invisible hand" refers to which of the following?
a. Government interference in markets to prevent greed. b. The "best interests of society" (public interest) will occur as an outcome of the market process coordinating the self-interested interactions of buyers and sellers (private interest). c. The "best interest of society," (public interest) will occur as an outcome of careful guidance by government authorities in allocating scarce goods and services according to private interest. d. Bribes and graft that interfere with the market process.
Critics of nationwide banking fear
A) an elimination of community banks. B) increased lending to small businesses. C) cutthroat competition. D) banks with economies of scale problems.