As women's wages have risen relative to men's wages, the opportunity cost to women of doing housework has ________ than has the opportunity cost to men
A) increased less
B) increased more
C) decreased more
D) decreased less
Answer: B
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Use the following table to answer the next question.OutputATC Plant 1ATC Plant 2ATC Plant 3ATC Plant 41,500$10$15$20$302,00081217252,50091015203,00012813183,50015611164,00018109144,50020127125,000241511105,50029191386,0003525159Plant sizes get larger as you move from Plant 1 to Plant 4. Which plant size would generate the least average total cost for the 3,000-4,000 level of output?
A. Plant 1 B. Plant 2 C. Plant 3 D. Plant 4
Let L represent the number of workers hired by a firm, and let Q represent that firm's quantity of output. Assume two points on the firm's production function are (L = 12, Q = 122) and (L = 13, Q = 130). Then the marginal product of the 13th worker is
a. 8 units of output.
b. 10 units of output.
c. 122 units of output.
d. 132 units of output.
Commercial bank reserves are typically less than 1 percent of total assets, however in 2013 bank reserves ________ because of ________
A) dropped drastically to near zero; the wave of natural disasters experienced in the nation and around the world B) rose to around 88 percent; the financial crisis of 2008-2009 C) rose to around 18 percent; the financial crisis of 2008-2009 D) rose drastically to around 18 percent; the wave of natural disasters experienced in the nation and around the world E) dropped drastically to near zero; the financial crisis of 2008-2009
Kelly and David are both capable of repairing cars and cooking meals. Which of the following scenarios is not possible?
a. Kelly has a comparative advantage in repairing cars and David has a comparative advantage in cooking meals. b. Kelly has an absolute advantage in repairing cars and David has an absolute advantage in cooking meals. c. Kelly has a comparative advantage in repairing cars and in cooking meals. d. David has an absolute advantage in repairing cars and in cooking meals.