Which of the following would cause the demand for mathematicians to increase?
a. an increase in the productivity of physicists.
b. an increase in the wage of mathematicians.
c. a decrease in the productivity of mathematicians.
d. an increase in the productivity of mathematicians.
d. an increase in the productivity of mathematicians.
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Explain how our standard of living depends upon our level of real GDP per person, but there might not be a one-to-one relationship between the standard of living and real GDP per person. Give examples of things that can affect one, but not the other
What will be an ideal response?
Because wage rates are so low in Africa, why don't Microsoft, Cisco and other major corporations close down their American operations and move to Africa?
What will be an ideal response?
In 2006, the base price of a Hummer SUV was about $30,000. By 2008 as gasoline prices increased,
A) the demand curve for Hummers shifted leftward and Hummer prices decreased. B) the demand curve for Hummers shifted rightward and Hummer prices increased. C) there was a movement down along the Hummer demand curve. D) there was a movement up along the Hummer supply curve.
Technological improvement (e.g., better capital equipment) will result in a leftward shift of the marginal revenue product of labor
Indicate whether the statement is true or false