The opportunity cost of investing is represented by:
a. the present value of the investment.
b. the marginal resource cost.
c. the marginal revenue product.
d. the interest rate.
d
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Explain what is meant by urban bias. What are the major effects of urban bias?
What will be an ideal response?
Which firm is not dealing with adverse selection
a. a manufacturer forgoes a usual 90 day probationary period for new employees b. a temporary clerical agency requires a typing test c. a manufacturer requires suppliers to be ISO 900 . certified d. Smokers get the worse life insurance rates as non-smokers
What is the value of the index of intra-industry trade for an industry in which exports are $100 million and imports are $200 million?
a. 100/300 = 0.33 b. (100 + 200)/100 = 3.00 c. 100/[1/2 × (100 + 200)] = 0.67 d. 100/200 = 0.50
Refer to the following payoff matrix:Player 1Player 2??Low QHigh Q?Low Q$10,$35$25,$30?High Q$30,$7$20,$6If the payoff matrix is a simultaneous-move production game, the Nash equilibrium is for:
A. player 1 to produce high output and player 2 to produce low output. B. both players to produce low output. C. player 1 to produce low output and player 2 to produce high output. D. both players to produce high output.