An increase in a country's population may contribute to the rate of technological progress because a larger population
a. forces the capital stock to be spread more thinly.
b. forces natural resources to be spread more thinly.
c. brings with it more scientists, inventors, and engineers.
d. brings with it more favorable recognition from other countries.
c
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When a nation exports a good, its consumer surplus ________, and its producer surplus ________
A) increases; increases B) decreases; decreases C) increases; decreases D) decreases; increases E) does not change; increases
Two-part pricing offers a mechanism whereby the firm can
A) charge two different prices to distinct groups of customers. B) collect two times as much from consumers as a single-price monopoly can. C) capture some or all of the consumer surplus. D) reduce some of its fixed costs.
Utility is defined as the:
a. sense of pleasure or satisfaction derived from consuming goods and services. b. cost of acquiring goods and services. c. profits consumers earn from consuming goods and services. d. monetary value to consumers of goods and services. e. desire to consume goods and services.
If the price of an ounce of gold is 200 ZARs in South Africa and $75 in Canada, what will be the South African Rand (ZAR) per Canadian dollar (C$) exchange rate?
a. C$1 = 4.25 ZAR b. C$1 = 1.75 ZAR c. C$1 = 2 ZAR d. C$1 = 2.67 ZAR e. C$1 = 4 ZAR