In some nations, the government pays parents to send their children to school. There is ________ that these payments ________ school attendance.
A. some evidence; actually decrease
B. no evidence; increase
C. no evidence; increase or decrease
D. some evidence; increase
Answer: D
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What is the opportunity cost of attending class today?
What will be an ideal response?
A dominant strategy:
A. is always the same for all players of a game. B. exists in every game. C. is the best one to follow no matter what strategy other players choose. D. awards the highest achievable payoff in a game.
Suppose the opportunity cost of producing 1 microwave oven in the U.S. is 100 bushels of wheat; in Korea the opportunity cost of producing 1 microwave oven is 150 bushels of wheat. In these circumstances U.S. consumers will be better off if
A. the U.S. possesses a comparative advantage in the production of both of these goods. B. the U.S. imports microwaves and exports wheat in its trade with Korea. C. the U.S. produces both of these goods. If either wheat or microwave ovens are imported from Korea, U.S. workers will lose their jobs. This would result in lower income and consumption in the U.S. D. the U.S. exports microwave and imports wheat in its trade with Korea.
In the short run, average total cost is
A. equal to average variable cost. B. higher than average variable cost. C. less than average variable cost. D. sometimes higher and sometimes lower than average variable cost.