Low wages may be traceable to all of the following except one. Which is the exception?
a. low productivity
b. too much saving
c. unstable business climate
d. poor education and training
e. lack of adequate physical capital supplied to labor
B
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Suppose there are only two goods: lettuce and grapes. In California, a head of lettuce sells for 50¢ and a bunch of grapes sells for $1. In Nebraska, 25¢ must be added to these absolute prices to cover transportation costs. How do these transportation costs affect the relative prices of lettuce and grapes?
a. The transportation costs do not affect the relative prices of lettuce and grapes. b. The relative prices of lettuce and grapes are both higher when transportation costs are added. c. The addition of transportation costs makes the relative price of grapes higher and the relative price of lettuce lower. d. The transportation costs raise the relative price of lettuce but lower the relative price of grapes.
A decrease in the expected future domestic exchange rate causes the demand for domestic assets to ________ and the domestic currency to ________, everything else held constant
A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
The following is an example of risk aversion
a. those applying for a well-paid job tend to be the most qualified b. more reckless drivers opt for cars with fewer safety devices c. the contractor with the lowest bid for a is under-qualified d. Initial Public Offerings (IPOs) seek investors when prospects look good
Exhibit 9-1 A monopolistic competitive firm
?
In the long run, the demand curve for the monopolistic competitive firm shown in Exhibit 9-1:
A. shifts leftward. B. remains the same. C. shifts rightward. D. becomes more inelastic.