Economists contend that most economic decisions are:
A. random.
B. chaotic.
C. spontaneous.
D. purposeful.
Answer: D
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In a two-period model with production, an increase in current domestic total factor productivity
A) increases domestic output and increases the current account surplus. B) increases domestic output and decreases the current account surplus. C) decreases domestic output and increases the current account surplus. D) decreases domestic output and decreases the current account surplus.
The "paired observation" of (-14, -6 ) means
A) x = -14, y = -6 B) x = -6, y = -14 C) that the distance between the two points will be 8. D) the origin is at -14 and -6.
Karl Marx predicted that the exploitation of workers would cause capitalism to self-destruct
a. True b. False Indicate whether the statement is true or false
The term "compensating differential" refers to
a. the fact that workers who do similar work should be paid the same wage. b. the fact that some workers live further from their jobs than do other workers. c. a wage difference that is due to unionization of some firms but not others. d. a wage difference that arises from nonmonetary characteristics of different jobs.