In the market for their services, workers face a trade-off between ________
A) higher and lower wage jobs
B) equilibrium and non-equilibrium solutions
C) labor and leisure
D) diminishing and increasing marginal productivity
C
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In a well-functioning market, high opportunity costs will be reflected in high monetary costs.
Answer the following statement true (T) or false (F)
Very Technical is a firm that sells computing equipment. It costs Very Technical $150 for each order of computer monitors and the variable cost of placing an order is $2 per monitor. Very Technical pays an annual holding cost of $8 per monitor. If Very Technical sells 4,000 computer monitors a year and they order 500 monitors, what is the total annual cost of the monitors?
A) $11,200 B) $9,500 C) $8,750 D) $12,500
As a result of the Uruguay Round, production of ________ goods increased in Asian developing countries and polluting emissions in these countries ________ as a result.
A. unskilled-labor-intensive; decreased B. capital and skill-intensive; increased C. capital and skill-intensive; decreased D. unskilled-labor-intensive; increased
Which government sector has the ability to respond countercyclically to the economy?
A. Federal only. B. Local only. C. State only. D. Federal, state, and local.