The production function is a relationship between the amount of labor employed and
A) the wage rate paid to the workers.
B) the maximum quantity of real GDP that can be produced.
C) the maximum quantity of nominal GDP that can be produced.
D) the amount of labor workers supply.
E) all other resources at different levels of employment.
B
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What does the "brain drain" refer to and why is it a problem for developing countries?
What will be an ideal response?
The GDP deflator is a broader measure of the price level than the CPI because
A) it covers sales tax. B) it covers rents. C) it covers investment. D) it factors out fluctuations in seasonal items.
The European Union Emission Trading Scheme is an example of:
a. a pollution tax. b. a pollution subsidy. c. a command approach. d. cap and trade. e. enforcing private property rights.
?A common form of sample selection that does not observe the dependent variable because of the outcome of another variable is called _____.
A. ?nonrandom sample selection B. ?exogenous sample selection C. ?incidental truncation D. ?endogenous sample selection