An increase in a nation's population results in
A) an upward shift in the production function.
B) a movement along the production function.
C) a leftward shift in the labor supply curve.
D) Both answers A and C are correct.
B
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In equilibrium, with exports equal to imports it must be the case that
A) leakages equal injections. B) saving plus taxes equal government expenditures plus investment. C) total expenditures equal GDP. D) All of these.
The greater the curvature of the isoquant:
a. the greater the degree of substitutability between the inputs. b. the lower the possibility of substitution between inputs. c. the higher the impact of a change in relative prices of inputs. d. the lower the prices of inputs.
If transactions costs are very high and auctions for pollution permits are not possible, which of the following is the most effective way to deal with pollution?
A. Require all polluters to limit their pollution to a certain level with regulation B. Allow the parties to negotiate C. Give subsidies to reduce pollution D. Tax pollution
If a can of soda costs $1.00 today, how much would it cost in two months if the prices go up by 50 percent per month?
A. $2.25 B. $1.50 C. $2.00 D. $2.50