Which of the following can lead to permanent differentials in resource prices?
a. an increase in demand for a product produced by the resource
b. differences in the inherent quality of resources
c. differences in the time and money involved in developing necessary skills
d. differences in the nonmonetary rewards of a job
e. a lack of resource mobility
E
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The table below shows the utility schedule for a consumer of candy bars. Candy Bars ConsumedTotal Utility001529312414515615713Marginal utility becomes negative with the consumption of the
A. sixth candy bar. B. seventh candy bar. C. fifth candy bar. D. second candy bar.
Real investment tends to be
A) procyclical and less variable than real GDP. B) procyclical and more variable than real GDP. C) countercyclical and less variable than real GDP. D) countercyclical and more variable than real GDP.
The double taxation of capital gains can be justified _____
a. on the ability-to-pay principle b. on efficiency grounds c. on the grounds that government needs more revenue d. on the benefit principle
Per capita GDP can be defined as
a. GDP per working person. b. GDP per unit of capital. c. GDP per person. d. GDP per unit of unemployment.