Which of the following would be most likely to cause the per capita income of less-developed countries to rise?
A. development of strong labor unions
B. more rapid population growth
C. investment expenditures that enhance the human capital of labor force participants
D. an international minimum wage law
Answer: C
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Suppose Island Bikes, a profit-maximizing firm, is the only bike rental company in a small resort town. The marginal cost to Island Bikes of renting out a bike is $3, and Island Bikes has no fixed costs. Each day Island Bikes has six potential customers, whose reservations prices are listed below.CustomerReservation Price($/Rental)A22B16C12D8E6F4 Suppose Island Bikes knows that customers whose reservation prices are at least $10 always rent bikes before noon, while those whose reservation prices are below $10 never do so. If Island bikes can charge a different price in the morning and in the afternoon, then in the afternoon, it will rent out ________ bike(s) and charge ________ per bike.
A. 5; $10 B. 1; $8 C. 3; $4 D. 2; $6
In the case of a negative externality, the social marginal cost will
a. exceed the private marginal cost. b. be equal to private marginal cost. c. fall short of private marginal cost. d. bear no significant relation to private marginal cost.
Which of the following groups experiences high unemployment rates?
a. White-collar professionals b. Attorneys c. Technical workers d. Blue-collar workers e. Web page designers
International specialization and trade according to the principle of comparative advantage is mutually beneficial for all economies involved
a. True b. False Indicate whether the statement is true or false