Which of the following would shift the FE line to the right?
A) An adverse supply shock
B) An increase in labor supply
C) A decrease in the capital stock
D) An increase in the future marginal productivity of capital
B
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Laura purchased a brand new Pontiac for $20,000. The moment she assumed ownership, and drove it off the lot, its market value immediately fell to $17,500. Is the $2,500 difference in value a sunk cost?
A) No. B) Yes it is, but only if Laura regrets her decision to have purchased the new Pontiac. C) Yes it is, but only if Laura receives no compensating benefit from the new Pontiac. D) Yes it is, but only if Laura decided to immediately resell the car. E) Yes it is, period.
In the life-cycle hypothesis, a person who expects to work for R years earning Y dollars per year, and live for a total of L years, will consume ________ per year
A) RY - (L - R)Y B) LRY C) (L - R)Y D) (R/L)Y
What are the commonly used arguments for the use of tariffs?
Suppose a fishing boat reaches its most productive use of each person's talent with 15 crew members. More than 15 workers would cause overcrowding. If there are only 10 crew members currently on the boat, adding one more crew member will
a. require the owner to add another boat b. increase the level of labor productivity c. have no effect on labor productivity d. reduce the need for other variable inputs such as fuel e. reduce the total variable cost of operating the fishing boat