If increases in capital per worker lead to increased output per worker, but by decreasing amounts as capital increases, the per-worker production function _____
a. is vertical
b. has a decreasing slope
c. has an increasing slope
d. has a negative slope
e. is horizontal
b
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Refer to Figure 4-18. As a result of the tax, is there a loss in producer surplus?
A) No, because the consumer pays the tax. B) Yes, because producers are not selling as many units now. C) No, because the market reaches a new equilibrium D) No, because producers are able to raise the price to cover their tax burden.
According to the United Nations, Millennium Development Goals Report, the annual growth in % of slum population from 1990-2001 has been the largest in:
(a) Latin America and the Caribbean (b) South-East Asia (c) Sub-Saharan Africa (d) Southern Asia
Bank customers perceive Internet-only banks as being
A) more secure than physical bank branches. B) a better method for the purchase of long-term savings products. C) better at keeping customer information private. D) prone to many more technical problems.
A call option gives the owner the
A) right to sell the underlying security. B) obligation to sell the underlying security. C) right to buy the underlying security. D) obligation to buy the underlying security.