According to the text, population growth in many poor countries does NOT generally result in increased labor resources because
A. many people do not join the labor force.
B. many people work two jobs.
C. most people are not productive in their work.
D. most jobs are for middle-age workers.
Answer: A
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Mary has to choose between a four-day vacation and a five-day vacation to the same place. To arrive at the optimal choice, which optimization technique do you think will be arithmetically easier and faster to implement and why?
What will be an ideal response?
A firm can always increase its output by one unit at a marginal cost of $10. Its marginal cost curve is
A. a horizontal line. B. a vertical line. C. a ray with slope equal to 10. D. exactly one-tenth as steep as its total cost curve.
Why is simply asking people how much they value a highway not a reliable way of measuring the benefits and costs?
a) Those who stand to lose have an incentive to exaggerate their true costs. b) Those who stand to gain have an incentive to tell the truth. c) Answers to the survey questions will always be downwardly biased. d) Not everyone asked will be using the highway.
Based on the graph showing the 2016 U.S. health dollar, which two of the following categories make up roughly half of all health care expenditures?
a. hospital care; physician and clinical services
b. hospital care; prescription drugs
c. nursing homes and home health care; prescription drugs
d. prescription drugs; other spending