When Chile experiences investment from abroad, it experiences, as a result,
a. an increase in productivity.
b. a decrease in Gross National Product (GNP).
c. lower wages for Chilean workers.
d. None of the above is correct.
a
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Leo's Bakery reduces the price of wheat bread from $3 to $1 and finds that quantity demanded increases from 100 to 122 loaves. Leo calculates that his price elasticity of demand for wheat bread is:
a. 0. b. 0.2. c. 1.0. d. 1.5. e. 2.0
The local labor market for lawn-mowing workers is initially in equilibrium. These workers are also able to clean swimming pools and have no preference for one job over the other. If the wage rate for pool cleaning rises, which of the following would occur in the lawn-mowing labor market?
a. Both labor demand and labor supply will drop, leading to a lower wage rate and lower employment. b. Both labor demand and labor supply will rise, leading to a higher wage rate and lower employment. c. Labor supply will drop, leading to a higher wage rate and lower employment. d. Labor supply will drop, leading to a lower wage rate and lower employment. e. Labor demand will drop, leading to a lower wage rate and lower employment.
A country's production possibilities increases because the available workers become more skilled at using a computer. This is an example of growth caused by
(A) Global Resources (B) Human Resources (C) Production Opportunity (D) Technology
Using above table, the market price of the textbook is
A. $40.00. B. $118.90. C. $32.00. D. $78.90.