Imagine a $2,000 investment that raises the economy's capital stock from $20,000 to $22,000 . It changes the capital-labor ratio from $200 to $220 . Economists refer to such increases in the capital-labor ratio as
a. capital deepening
b. capital accretion
c. capital productivity
d. capital-labor output shocks
e. capital stockpiling
A
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Option A provides $9,000 with probability 50 percent or $11,000 with probability 50 percent. Option B provides $8,000 with probability 50 percent or $12,000 with probability 50 percent. For most people the cost of risk associated with B is
A) less than that associated with A. B) the same as that associated with A. C) exactly twice that associated with A. D) more than twice that associated with A.
The following are reasons for studying randomized controlled experiment in an econometrics course, with the exception of
A) at a conceptual level, the notion of an ideal randomized controlled experiment provides a benchmark against which to judge estimates of causal effects in practice. B) when experiments are actually conducted, their results can be very influential, so it is important to understand the limitations and threats to validity of actual experiments as well as their strength. C) randomized controlled experiments in economics are common. D) external circumstances sometimes produce what appears to be randomization.
Brian Vargo, an auto repair mechanic who remains unemployed because he refuses to work for less than $1,000 an hour, is
a. counted as part of the labor force and is unemployed b. considered frictionally unemployed c. an underemployed worker d. not counted as part of the labor force e. considered productively active even though he isn't working
Which question is an illustration of a microeconomic question?
a. Is the quantity of wine purchased in one year dependent upon the price of wine? b. Is the purchasing power of the dollar higher or lower today than it was in 2000? c. Does government spending influence the total level of employment in the economy? d. Is capitalism superior to socialism?