If the government increases unemployment benefits, then the labor
A) demand curve shifts rightward.
B) demand curve shifts leftward.
C) supply curve shifts rightward.
D) supply curve shifts leftward.
E) Both answers B and D are correct.
D
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In Solow's exogenous growth model, the economy reaches a stable steady state because
A) the marginal return of capital is decreasing. B) capital is growing at a constant rate. C) the substitution effect is stronger than the income effect. D) conditional convergence holds.
Jenni can change a car's oil in 10 minutes and clean a bathroom in 20 minutes. Rob can change a car's oil in 20 minutes and clean a bathroom in 10 minutes. Therefore,
a. Jenni should clean the bathroom and Rob should change the car's oil b. Rob should clean the bathroom and Jenni should change the car's oil c. there are no gains from specialization d. Rob has an absolute advantage in both activities e. Jenni has an absolute advantage in cleaning the bathroom
Which of the following is true, according to the law of diminishing marginal utility?
A. The marginal utility of Diane's second Coke is greater than the marginal utility of her third pretzel, other things constant. B. The marginal utility of Diane's second Coke is greater than the marginal utility of Ken's third pretzel, other things constant. C. The marginal utility of Diane's second Coke is greater than the marginal utility of her third Coke, other things constant. D. The total utility of two Cokes is greater than the total utility of three Cokes, other things constant.
The NAFTA agreement affects our trade with
A. Asia. B. North America. C. Africa. D. The OPEC nations. E. The European Common Market.