When relatively few workers have high ability,
A) they will settle for the average wage.
B) they will want to signal their ability.
C) the premium for high ability is less than when most workers have high ability.
D) they do not need to signal their ability.
B
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An unemployed individual decides to spend the day fishing. The opportunity cost of fishing is:
A. the cost of bait and any other monetary expenses. B. zero, because the person doesn't have a job. C. the cost of bait, any other monetary expenses, and the value of the individual's wages while he was working. D. the cost of bait, any other monetary expenses, and the value of the best alternative use of the individual's time.
Refer to the information provided in Figure 4.5 below to answer the question(s) that follow.
Figure 4.5Refer to Figure 4.5. The price of CD-Rom drives in the United States would be $15 per CD-Rom drive, and the United States would import 9 million CD-Rom drives if the United States imposed ________ tariff per CD-Rom drive on imported CD-Rom drives.
A. no B. a $10 C. a $15 D. a $25
In a closed economy, investment must be equal to private saving
a. True b. False Indicate whether the statement is true or false
Which of the following measures gives the earliest warning of increasing inflation?
A. the Producer Price Index B. the Personal Consumption Expenditure Index C. the Consumer Price Index D. All of these should signal the same short-run inflation.