Women composed __________ of the paid workforce in 1900 and 50% of the paid workforce in 2010.
A. 2%
B. 18%
C. 33%
D. 60%
Ans: B. 18%
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As the cost of resources goes up, producers ________ production, which drives prices ________
A) increase; up B) increase; down C) decrease; up D) decrease; down
As with many public goods, determining the appropriate level of government support for the production of general knowledge is difficult because
a. patents correct for an unknown portion of the externality. b. benefits are hard to measure. c. members of Congress are often experts in the sciences. d. the costs always exceed the benefits.
Suppose robotic technology improves the results of abdominal surgery - less time to perform the surgery, faster recovery times, and fewer mistakes. What is the impact of this new technology on the market for abdominal surgery?
a. Demand for robot-assisted surgery will increase, and prices will fall. b. Demand for robot-assisted surgery will increase, and prices will rise. c. Hospitals will be slow to adopt the new technology fearing that it may result in lower prices. d. The demand for surgical assistants will increase. e. Increased demand will result in lower prices.
According to the real business cycle theory, ________ decrease the marginal product of labor, which causes real wages and output to decrease.
A. decreases in the money supply B. negative technology shocks C. positive technology shocks D. increases in the money supply