If a country is industrialized then prolonged periods of negative growth in GNP per capita should not be a cause for concern
Indicate whether the statement is true or false
FALSE
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At a price of $5, Sam buys 10 units of a product; when the price increases to $6, Sam buys 8 units. Martha says Sam's demand has decreased. Is Martha correct?
a. Yes, Martha is correct. Sam's demand has decreased. b. No, Martha is incorrect. Sam's demand has increased. c. No, Martha is incorrect. Sam's quantity demanded has decreased, and his demand has not changed. d. No, Martha is incorrect. Sam's quantity demanded has increased, and his demand has increased. e. No, Martha is incorrect. Sam's demand has increased, and his quantity demanded has decreased.
A person with AIDS has a guaranteed right to apply for health insurance and receive coverage at the same rate as a healthy person. What is the likely result for the insurance company?
a. Rational ignorance b. The principle-agent problem c. The substitution effect d. Externalities e. Adverse selection
An increase in production in the short run definitely results in an increase in
A. Average total costs. B. Average fixed costs. C. Total costs. D. Marginal costs.
Holding other things constant, an increase in the use of capital in production would
A) increase the marginal productivity of labor. B) decrease, but not proportionately, the marginal productivity of labor. C) not change the marginal productivity of labor. D) decrease proportionately the marginal productivity of labor.