Identify the statement which is true about bargaining
a. There is a strong relationship between bargaining power and education.
b. The distribution of prices within the zone of agreement has a high standard deviation.
c. Average final prices are often near the halfway mark between valuation and opportunity cost and there is hardly any deviation from this.
d. There is a strong relationship between bargaining power and income.
B
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A real interest rate that causes the quantity of saving supplied to be equal to the quantity of saving (or investment) demanded is an example of the:
A. principle of comparative advantage. B. equilibrium principle. C. principle of increasing opportunity cost. D. scarcity principle.
Since 1970, the U.S. federal government had a budget surplus
A) in almost every year. B) in a few years in the 1990s. C) only once, in 2008. D) The U.S. federal government has not had a budget surplus since 1970.
Over the last three decades in the United States, services have become a smaller fraction of GDP relative to goods
Indicate whether the statement is true or false
In general, the cost of an input:
A. decreases when you've reached the point of diminishing marginal product in your firm. B. stays the same when you've reached the point of diminishing marginal product in your firm. C. increases when you've reached the point of diminishing marginal product in your firm. D. is minimized when you've reached the point of diminishing marginal product in your firm.