If a nation wants to get the most out of its resources, each productive assignment should be carried out by those persons who
A) least enjoy performing the productive activity.
B) can complete the productive activity most rapidly.
C) have a comparative advantage in the productive activity.
D) have the highest opportunity cost.
C) have a comparative advantage in the productive activity.
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The free-rider problem arises because pure public goods are nonexcludable
Indicate whether the statement is true or false
Which of the following statements is true?
A) Rational economic agents maximize more than just monetary income. B) An individual does not require information to make optimal decisions. C) The principle of optimization is only accurate when it comes to making monetary decisions. D) It is not necessary to consider the risks of a particular alternative while making an optimal decision.
Which of the following correctly ranks the amounts from largest to smallest?
A. Output per person, total output, average labor productivity B. Average labor productivity, output per person, total output C. Total output, average labor productivity, output per person D. Total output, output per person, average labor productivity
When prices increase, the real interest rate
A. will decrease and total planned spending on goods and services will decrease. B. will increase and total planned spending on goods and services will decrease. C. will increase and total planned spending on goods and services will increase. D. will not be affected.