The per-worker production function is ________
A) upward-sloping
B) downward-sloping
C) vertical
D) horizontal
A
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In Figure 5-1 above, if the budget line is BB0 and the natural real GDP is $5300, the structural surplus or deficit is
A) FC. B) AD. C) FA. D) none of the above.
An example of moral hazard is
a. workers working diligently even though the boss is not looking b. health care insured forgoing their diet and exercise c. drivers of safer cars turning their phones off before driving d. borrowers investing their loan proceeds exactly as the bank requires
Suppose a new law requires all piercing studios to pass tougher licensing tests and to begin using more costly sterilization methods. Other things constant, this law would cause:
a. an increase in the supply of piercings and a lower price for piercings. b. an increase in the supply of piercings and a higher price for piercings. c. a decrease in the supply of piercings and a higher price for piercings. d. a decrease in the supply of piercings and a lower price for piercings.
The cross-price elasticity of demand for bacon and eggs likely would be negative because bacon and eggs are complements for many people
a. True b. False Indicate whether the statement is true or false