The signaling theory of education is most similar to the
a. human capital theory of education.
b. discrimination theory of advertising.
c. signaling theory of advertising.
d. efficiency wage theory of labor economics.
c
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A baker can produce two products: cupcakes and pies. The table below is the baker's production possibilities schedule:Production Possibilities ScheduleProductABCDEFCupcakes01220365681Pies1086420If the baker uses all of its resources to produce only cupcakes, then its production combination will be
A. F. B. A. C. B. D. E.
Suppose that Congress allocates $1 billion to clean up after hurricanes in 2016. It also raises taxes by $1 billion to keep the deficit from growing. If the marginal propensity to consume is 0.9, what is the effect on equilibrium GDP?
A) GDP increases by $900,000. B) GDP increases by $10 billion. C) GDP increases by $1 billion. D) GDP does not change.
The United States is a leading exporter of wheat. What explains the comparative advantage of the United States in wheat production?
A) a large supply of unskilled labor B) positive externalities C) investment by multinational firms such as Archer-Daniels-Midland and Tyson Foods Inc. D) climate and soil conditions in the United States which are well-suited for wheat production
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, the area ABC represents consumer surplus in an economy with:
A. free trade. B. a tariff being imposed on trade. C. autarky. D. None of these is true.