Conspicuous consumption as an ability signal
A. completely different from a prisoner's dilemma.
B. characterized by lower levels of consumption.
C. is more effective if the positional goods nature of consumption causes everyone to consume elaborately.
D. will likely continue even if it is wasteful for all involved.
Answer: D
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) In country A, total business income after immigration occurs is:
A. $320M
B. $720M
C. $650M
D. $1,200M
When the economy slips into a recession, normally the demand for bonds ________, the supply of bonds ________, and the interest rate ________, everything else held constant
A) increases; increases; rises B) decreases; decreases; falls C) increases; decreases; falls D) decreases; increases; rises
The producer can raise the level of profit by hiring more units of a resource if:
a. the marginal revenue product of the resource is equal to the marginal factor cost. b. the marginal factor cost becomes negative. c. the marginal revenue product of the resource is greater than the marginal factor cost. d. the marginal revenue product falls to zero. e. the marginal revenue product of the resource is less than the marginal factor cost.
Name some of the barriers to entry that can be created by a competitive firm to protect profits?