The World Bank's main concern about the East Asian development model is that
a. it hasn't really worked
b. it has relied too much on exports
c. it hasn't had the support of labor unions
d. it isn't easily replicated where government institutions are weak
e. all of the above
D
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Which of the following is an example of a product that is nonexcludable and rival?
A) a motorcycle B) the court system C) Western lowland gorillas D) a NASCAR event
Because the marginal cost of labor curve lies above the labor supply curve, a monopsony will pay a wage that is
A) equal to the wage paid in a competitive market. B) equal to value of marginal product. C) greater than value of marginal product. D) less than the wage paid in a competitive market.
Other things the same, what happens in the long run to the price level and quantity of output after a contraction in aggregate demand?
Suppose you put $10,000 into a bank account today that pays interest annually at an annual rate of 0.5%. What is the future value of the $10,000 after 10 years?
a. $10,050.00 b. $10,511.40 c. $10,573.26 d. $16,288.95