A government policy of providing free public K-12 education is most consistent with
A) Pareto-efficiency.
B) the First Theorem of Welfare Economics.
C) the Second Theorem of Welfare Economics.
D) the contract curve.
C
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Which of the following are true in a graph of isoquants (with capital on the vertical and labor on the horizontal) assuming a given wage and rental rate.
A. All long-run cost minimizing input bundles lie on a ray from the origin. B. (a) is true only if the production technology is homothetic. C. All short-run cost minimizing input bundles lie on a horizontal line. D. (c) is true only if the production technology is homothetic. E. (a) and (c) are true. F. (b) and (c) are true. G. (a) and (d) are true. H. None of the above.
If marginal product is negative, total product must be negative
a. True b. False
An increase in wages in the public sector is always accompanied by an increase in labor productivity
a. True b. False Indicate whether the statement is true or false
One statistic that quantifies the risk of an investment is:
A. alpha. B. beta. C. gamma. D. the average expected rate of return.