The invention of the Internet should make poorer countries
a. poorer due to the expense of new technology.
b. poorer because the Internet is primarily in richer countries.
c. richer because technology adoption is easier.
d. richer because they can distribute information without costs.
c
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Refer to Figure 17-2. If Becca can sell her bracelets at $3 each, what is the marginal product of the 4th worker?
A) 36 bracelets B) $36 C) $144 D) 12 bracelets
A bank has total assets of $2,000,000 and capital of $150,000. The bank's leverage ratio is
A) 20%. B) 15%. C) 7.5%. D) None of the above.
Estate sales often involve an auctioneer rattling off prices in an effort to get the highest price possible. Which of the following is true?
A. If the auctioneer starts the bid too low and only one person wants the item, then efficiency is not reached. B. The sale does reach equilibrium because the only person desiring the item at the last price called gets it so no other trades could add to welfare. C. Equilibrium properties are not relevant unless a larger market is involved. D. Because there is no chance to have the quantity supply increased in the moment the sale cannot reach the efficient point.
In the aggregate demand-aggregate supply model in the short run, an increase in the money supply will lead to a(n) _____
Fill in the blank(s) with the appropriate word(s).