Development economics must have a scope wider than traditional economics because
a. values and attitudes play little role in the pace of development.
b. people in developing societies do less utility-maximizing.
c. transformation of social institutions is necessary for development.
d. all of the above.
C
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The information in the above table gives the 2000 base period market basket and prices used to construct the CPI for a small nation. The table also has 2010 prices. What is the value of the CPI for 2010?
A) 140 B) 133 C) 100 D) 71.4 E) 142
To compete in the automobile market, Tesla must make many strategic decisions such as whether to introduce a new car model, how to sell and service its cars, and where to advertise
At Tesla's Fremont, California plant, managers must decide on the monthly production quantities of their S and X models. In making this decision, the managers A) will choose to only produce the quantity of S and X models where marginal cost equals zero. B) will always decide on production quantities in which revenues are maximized. C) face no trade-off because the Fremont plant only produces these two models of the many Tesla models produced worldwide. D) face a trade-off, because producing more of one model means producing less of the other.
Refer to Table 4-8. What is the equilibrium hourly wage (W*) and the equilibrium quantity of labor (Q*)?
A) W* = $8.50; Q* = 380,000 B) W* = $8.50; Q* = 360,000 C) W* = $9.00; Q* = 370,000 D) W* = $9.00; Q* = 740,000
The payment for current rather than future command over resources is
A. an implicit cost. B. interest. C. opportunity cost. D. an implicit benefit.