A discovery that increases wheat yields per acre hurts farmers by increasing supply and lowering their total revenues
a. True
b. False
Indicate whether the statement is true or false
True
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A student athlete is deciding whether to work out for an extra hour. Her marginal benefit from another hour of exercise
A) is the benefit she gets from all the hours she's worked out all week. B) is the benefit she receives from exercising the additional hour. C) is less than the marginal cost of the additional hour. D) depends on the cost of the workout.
Suppose the economy is just recovering from a recession and all signs now point to robust growth. How might this transition from recovery to expansion be reflected in the monetary policy curve?
What will be an ideal response?
The Gini coefficient is calculated by measuring the area between:
A. the Lorenz curve and the x-axis. B. the Lorenz curve and the y-axis. C. the line of perfect equality and the Lorenz curve. D. the line of perfect inequality and the Lorenz curve.
Which of the following is an obstacle to economic development?
A. immigration B. openness to trade C. foreign direct investment D. poorly defined property rights