Jobs that involve pleasant work, as opposed to jobs that involve unpleasant work, usually pay
a. higher wages, because jobs that involve pleasant work typically require more education than do jobs that involve unpleasant work.
b. higher wages, because jobs that involve pleasant work typically require more well-developed personality skills than do jobs that involve unpleasant work.
c. lower wages, because workers typically are not attracted to jobs that involve unpleasant work unless there is a monetary inducement.
d. lower wages, because workers who take jobs that involve unpleasant work typically stay in those jobs for relatively long periods of time and accumulate significant experience.
c
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Economic theory defines capital as
A) anything that is scarce. B) non-human resources. C) produced resources used to produce future goods. D) resources containing a positive opportunity cost. E) stocks and bonds.
Refer to Figure 15-2. If the firm's average total cost curve is ATC2, the firm will
A) suffer a loss. B) break even. C) make a profit. D) face competition.
The MRP curve for a monopolist in the product market is
A) the same as the MRP curve for a perfectly competitive firm in the product market. B) to the left and below the MRP curve for a perfectly competitive firm in the product market. C) to the right and above the MRP curve for a perfectly competitive firm in the product market. D) upward sloping and below the MFC curve for a perfectly competitive firm in the product market.
Assume that Spain can produce a commodity using fewer resources than any other country. Spain will export this commodity even if other countries have a lower opportunity cost of producing it
a. True b. False