The above table shows the total product schedule for Hair Today, a hair styling salon. The average product when four workers are hired is
A) 10 hair stylings.
B) 15 hair stylings.
C) 20 hair stylings.
D) 240 hair stylings.
E) the same as when five workers are hired.
B
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Which of the following would likely occur if a larger number of highly skilled workers were allowed to immigrate to the U.S.?
a. The average wage for highly skilled workers would decline. b. The average wage for highly skilled workers would increase. c. The supply curve for highly skilled workers would shift to the left. d. The demand curve for highly skilled workers would flatten out.
Innovation is
A. the same thing as invention. B. the desired result of invention. C. the necessary precondition of invention. D. unrelated to invention.
In the United States, the highest percentage of health care is paid for by:
a. individuals. b. charities. c. private insurance. d. the government.
The moral hazard problem caused by government safety nets:
A. only exists for banks with high leverage ratios. B. is pretty constant across banks of all sizes. C. is greater for larger banks. D. is greater for smaller banks.