A prestigious private high school requires each of its teachers to have a Ph.D. in the subject they teach. This requirement is likely to
a. increase the supply of teachers to this school.
b. increase wages for teachers at the private school relative to those at public schools.
c. decrease the marginal product of teachers at the private school.
d. All of the above are correct.
b
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A nation can produce at a point outside its PPF
A) when it trades with other nations. B) when it produces inefficiently. C) when its PPF is bowed out. D) never.
An unexpected drop in the LEI should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
________ known is the father of management and famous for his time and motion studies especially in factory production
a. Robert Griffth b. Frederick Taylor c. Anthony Eppes d. John Charles Shelley
Suppose the current unemployment rate is 15 percent. If it rises to 20 percent
A) the economy will move up along the production possibilities curve. B) the economy will move closer to the production possibilities curve. C) the production possibilities curve will shift inward. D) the economy will operate farther inside the production possibilities curve.