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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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.
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.