As job opportunities for women and the wages those jobs pay have increased, the opportunity cost of doing housework has ________, so many families have chosen to hire specialists in households chores, such as cleaning services and lawn care services
, because the cost of these specialists is ________ than the cost of the wife (or husband) performing those chores.
A) decreased; lower B) increased; higher C) decreased; higher D) increased; lower
D
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Transfer pricing is a method used to
A) determine whether a firm should make or buy a component product. B) determine the correct value of a product as it moves from one stage of production to another. C) minimize a multinational firm's tax liabilities. D) All of the above
People often complain about price gouging after a disaster such as a hurricane. Suppose the government successfully prevented price increases due to the disaster. We would expect
A) reconstruction to take longer because the quantity supplied of new materials would increase more slowly. B) reconstruction to take less time because the demand for materials would increase faster. C) reconstruction never to occur. D) reconstruction to take less time because the government could rebuild more quickly when people are not in the way.
Measuring the effects of labor immigration shows:
a. that as workers move, they disrupt their families and cause huge costs in the recipient nation. b. that most immigrants spend months trying to find work. c. that immigration benefits the recipient nation by raising the marginal product of capital, expanding laborintensive production, and lowering prices of laborintensive goods. d. that immigration is very harmful to the host nation because of a huge increase in the unemployment rate
Let the production function be q = ALaKb. The function exhibits increasing returns to scale if
A) a + b = 1. B) a + b > 1. C) a + b < 1. D) Cannot be determined with the information given.