If Dawson prefers pizza to hamburgers and hamburgers to hot dogs, then if preferences are transitive
A) she must prefer pizza to hot dogs.
B) she could prefer hamburgers to pizza on some occasions but not hot dogs to pizza.
C) she could prefer hot dogs to pizza on some occasions but not hamburgers to hot dogs.
D) at times she could be indifferent among the three items.
A
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Refer to Figure 22-2. Assuming no technological change, if the United States increases capital per hour worked by $40,000 every year between 2012 and 2016, we would expect to see
A) real GDP per hour worked will be lower in 2016 than it was in 2012. B) the per-worker production function will get flatter over time. C) real GDP per hour worked will increase by the same increment each year between 2012 and 2016. D) the per-worker production function will shift up every year there is increase in capital per hour worked.
One of the reasons the student loan repayment plan at Yale did not work was because:
A. complete information was given to both the students and the University. B. there was an adverse selection of students into the program. C. the moral hazard of students made them take riskier jobs. D. the collective bargaining with the students reached an impasse.
Because people's wants are unlimited but resources are scarce,
a. only the rich get everything they want b. choices must be made c. there will be more services produced than goods d. people search for spiritual fulfillment rather than material fulfillment e. poor people never get anything they want
If two goods are substitutes, an increase in the price of one will cause the demand for the other to decrease
Indicate whether the statement is true or false