Which of the following world regions has received the largest percentage of lending from the World Bank since 1990?
A. Africa
B. South Asia
C. Middle East
D. Latin America/Caribbean
Answer: A
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All else equal, as the labor supply increases, the marginal product of labor will
A) increase at an increasing rate. B) increase at a decreasing rate. C) decrease at an increasing rate. D) decrease at a decreasing rate.
Which of the following are qualifications of the Coase Theorem?
a. technical transaction costs must remain low and be unaffected if liability assignment is reversed b. both parties must operate in a purely competitive market c. one party quickly makes an offer the other is just willing to accept only when the information regarding payoffs is complete, certain and known to both parties d. all of the above are correct e. only a and c
Changes in the economic rent paid to land
A. only affect marginal land. B. equal the difference in production costs between the old marginal land and new marginal land. C. reduce the use of land because the cost of using land is now higher. D. equal the difference in production costs between productive land and nonproductive land.
A tariff imposed on Japanese imports into the United States tends to:
A) penalize U.S. producers and benefit Japanese producers. B) benefit U.S. producers and penalize Japanese producers. C) penalize both U.S. and Japanese producers. D) benefit both U.S. and Japanese producers.