Which of the following contributes to economic? growth?
A) increase in environmental protection policies
B) increase in labor regulations restricting the hours of overtime allowed
C) increase in labor productivity
D) increase in consumer spending
Answer: C) increase in labor productivity
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Suppose two workers can harvest $46 and three workers can harvest $60 worth of apples per day. On the basis of this information we can say that the
A. marginal revenue product of the third worker is $14. B. marginal product of each of the first two workers is 23. C. marginal revenue product of each of the first two workers is $23. D. third worker should not be hired.
Which of the followings statements is true?
A) The amount of capital accumulation will be higher if the capital stock of last year was low. B) The amount of depreciation will be lower if the investment on capital last year was high. C) The amount of capital accumulation will be higher if the capital stock of last year was high. D) The amount of depreciation will be higher if the investment amount on capital last year was low.
Define the Bertrand model and its assumptions. Explain why the model predicts the perfectly competitive outcome despite the number of sellers. Discuss the limitations of the model.
What will be an ideal response?
When buying a used car from a dealer, showing up in cheap clothing and ungroomed is an example of:
A. screening. B. signaling. C. statistical discrimination. D. building a reputation.