The aggregate production function
A) measures the productivity of labor as leisure decreases.
B) increases only with increases in productivity.
C) shows that real GDP can increase because of increased productivity as well as increased labor hours.
D) cannot show the impacts of productivity improvements.
C
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Which of the following actions has the best potential for experiencing economies of scope?
A) producing a product that has appeal to a wider segment of the market B) producing computers and software C) producing spaghetti and soft drinks D) producing cars and trucks
In the prisoner's dilemma game:
A. a cooperative strategy can lead to a more beneficial outcome for both players. B. a noncooperative strategy will lead to a positive-positive outcome. C. a stable outcome is impossible. D. neither player has a dominant strategy.
Franklin Roosevelt implemented the New Deal in the 1930s, and Congress passed the Full Employment Act of 1946 . Both were examples of the government adopting the ideas of
a. classical economics b. rational expectations economics c. supply-side economics d. neo-Keynesian economics e. Keynesian economics
Hannah and Chris each like jewelry and music by the Rolling Stones. If we were to graph an indifference curve with jewelry on the horizontal axis and CDs by the Rolling Stones on the vertical axis, then
a. Hannah and Chris would have identical indifference curves. b. Hannah's indifference curve would be higher than Chris's indifference curve. c. Chris's indifference curve would be higher than Hannah's indifference curve. d. Because we do not know the intensity of each woman's preferences, we do not have enough information to compare their indifference curves.