Economic growth can result from a(n):
A. decrease in the number of workers available.
B. increase in the amount of consumer goods produced.
C. increase in the amount of productive resources.
D. increase in number of the minimum wage jobs.
Answer: C
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Kyle and Stan are playing Odds or Evens, where Kyle is designated as the "odd" player and Stan is designated as the "even" player. They decide to play the game 10 times If Kyle changes from a pure strategy of "shoot 2" and decides to "shoot 1" in two of the games, Stan would be best off if he
A) stuck with a pure strategy of "shoot 2." B) switched to a pure strategy of "shoot 1." C) stuck with a mixed strategy of "shoot 1" 50% of the time and "shoot 2" 50% of the time. D) switched to a mixed strategy of "shoot 1" more than 50% of the time and "shoot 2" less than 50% of the time.
When the price of a pizza decreases from $14 to $12
A) the income effect means people buy less pizza. B) the income effect points out that the total purchasing power of people who buy pizza increases. C) the income effect means that the demand for pizza will not change. D) None of the above answers is correct.
Which of the following is an example of a negative externality?
a. Planting flowers in your front yard. b. Talking loudly when others are trying to study economics. c. People donating money to charity. d. The price of bread increases. e. Accidentally pushing someone as you try to cross the street.
Suppose that a worker has the option of being paid in euros or dollars. It would be to the workers advantage if his employer pays him in ____________ rather than ______________ if the worker believes that the value of the dollar is about to ____________ relative to the value of the euro
A) euros; dollars; fall B) dollars; euros; rise C) euros; dollars; rise D) dollars; euros; fall E) ?a and b