Which of the following is most likely produced in a monopolistically competitive market?
a. soybeans
b. autos
c. fast food
d. oil
e. local phone service
C
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In the figure above, the poorest 40 percent of all households receive what share of income?
A) 10 percent B) 20 percent C) 40 percent D) 60 percent
Assuming capital and labor are substitutes, an improvement in technology that affects only the productivity of capital would cause a firm to employ more capital but leave the amount of labor employed unchanged
Indicate whether the statement is true or false
If output per worker in a steady state is $30,000, depreciation is 13%, the population growth rate is two percent, and the saving rate is 20%, what is the steady state capital-labor ratio?
A) $10,500 B) $85,714 C) $22,500 D) $40,000
According to the above table, if these two countries trade
A) Mexico should import computers and the United States import bicycles. B) the United States should import computers and Mexico should import bicycles. C) the United States should export bicycles and Mexico should export computers. D) we cannot tell which country should export which good without knowing the amount of labor utilized in each country.