If the labor force consists of 100 laborers, and these laborers work with a capital stock of $20,000 . then the capital-labor ratio is
a. 0.01
b. 0.02
c. 100
d. 200
e. 2,000
D
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Which of the following is the best example of a person NOT having clear property rights?
A) a city parks worker who inherits his uncle's town house B) a medical student who lives on campus for his first year of studies C) a retired college professor who builds a bungalow on her oceanfront property D) a dairy farmer who pays off the mortgage on his farm
Brandon finds that Max Solutions can supply computers with the specific configuration he needs. His company enters into a contract with Max Solutions to provide 60 custom-built desktops at an agreed price. The contract between them will ensure each of the following, EXCEPT:
a. that Brandon's company does not back out and make a deal with someone else for a lower price. b. Max Solutions does not sell the computers to another company for a higher price. c. Max Solutions supplies the computers before the scheduled date of delivery. d. Brandon's company compensates Max Solutions in case of cancellation of order at a later date.
An improvement in technology would shift which of the following curve(s)?
a. aggregate demand and short-run aggregate supply b. only the short-run aggregate supply c. only the aggregate demand d. short-run and long-run aggregate supply
The classical economists argued that saving is matched by an equal amount of investment because of
A) wage flexibility. B) price flexibility. C) money flexibility. D) interest rate flexibility. E) b and c