Most economists agree that ________ are the single most important source of productivity improvements.
A. increases in physical capital
B. discoveries of natural resources
C. technological advances
D. increases in human capital
Answer: C
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The optimal level of resource use comes when
A. MRP exceeds input price. B. MRP is less than input price. C. MRP equals input price. D. use of the resource exhausts the producer’s funds.
Wine Distribution Merger Two of UK's larger wine distribution companies, Bibendum and PLB, merged their businesses in October 2014 . Bibendum is primarily a restaurant supplier while PLB focuses on supplying wines to retailers. Does this suggest a mechanism through which the merger might create value?
To compare the standard of living of one country to another, economists use:
A.) Per capita GDP. B.) Real GDP. C.)Nominal GDP. D.) Output per worker.
Which of the following is a free rider?
A. Butch breeds the feared pit bulls, and his neighbors now erect fences around their property. B. Fred watches many public television programs, but he has never sent in a contribution. C. Barry steals candy from the store where he works. D. Betty regularly rides public transportation.