If the wage rate were $45, how many workers would be hired?
Answer: 4
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The use of psychological incentives to solve commitment problems would be least effective in games played:
A. once between family members. B. repeatedly between strangers. C. once between strangers. D. repeatedly between family members.
Under perfect capital mobility and a floating exchange rate system, expansionary fiscal policy leads to
a. an increase in income and the interest rate. b. no change in the interest rate and a fall in the trade balance. c. no change in the interest rate and a decrease in income. d. an increase in interest rates and a fall in the trade balance. e. no change in interest rates and the exchange rate.
The main duty of the Environmental Protection Agency is to monitor a government-enforced system of property rights
a. True b. False Indicate whether the statement is true or false
If bicycles can be sold for $100 each, and the marginal product of hiring a third worker is 2 bicycles, then the marginal revenue product from hiring that worker is
a. 2 bicycles b. $200 c. $100 d. $1,000 e. $300