All of the following were important structural changes in American capitalism during the period 1960–95 except
(a) New technology in the form of automated (machine-guided) production processes
(b) A capital-labor accord which allowed workers to share in productivity gains through wage increases, particularly during the 1950s and 1960s
(c) An increase in self-sufficiency as the nation reduced its economic interdependence with other nations
(d) A large and central role for government in directing the post-war economy
(c)
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An asset is anything of value owned by a person or firm
Indicate whether the statement is true or false
Janie decides to give up her $200,000 a year job as the producer of the most popular television news show in Seattle in order to cultivate and sell orchids, which she anticipates will yield her an annual income of $30,000 . To an economist,
a. she may be mother earth, but she's not making a rational economic decision b. it is impossible to comment on her decision because we can't engage in interpersonal comparisons of utility c. her total utility will fall d. there is no doubt that the utility she gains from working with orchids must be greater than the utility she gains working as a television producer e. it is clear that working has a negative utility for her