When both worker productivity and the price of the output being produced increase in an LDC, we can expect labor
a. demand to increase
b. demand to decrease
c. supply to increase
d. supply to decrease
e. supply and demand to shift out to the right
A
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The opportunity cost of producing one more unit of a good is calculated by dividing the
A) total quantity of the other good by the total quantity of the good whose opportunity cost we're calculating. B) decrease in the quantity of the other good by the increase in the quantity of the good whose opportunity cost we're calculating. C) price of the good whose opportunity cost we are calculating by the number of units of the other good that are forgone. D) total quantity of that good by the total quantity of other good. E) increase in the quantity of that good by the decrease in the quantity of other good.
U.S. Treasury bonds
A) carry no risk of default and are therefore not risky investments. B) have constant yields to maturity and are therefore not risky investments. C) have constant coupon rates and are therefore not risky investments. D) are subject to fluctuations in their market prices and are therefore risky investments.
A game in which all the players are worse off at the end of the game is a
A. negative-sum game. B. positive-sum game. C. dominant strategy game. D. noncooperative game.
________ arises when people realize they will still receive the benefits of a good whether they pay for it or not.
A. The voting paradox B. The drop-in-the-bucket problem C. Logrolling D. The free-rider problem