In European countries where it is hard to fire an employee:

A. employers are reluctant to hire workers.
B. employers instead rely on undocumented transient workers.
C. employers try hard to train workers well.
D. employers often treat workers very poorly.

Ans: A. employers are reluctant to hire workers.

Economics

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There are two conditions necessary for a consumer to maximize her utility. One is that the marginal utilities per dollar spent on each good and service consumed are equal. What is the other condition?

A) The prices of each good and service consumed must not be too high. B) Total spending on all goods and services must equal the amount available to be spent. C) The consumer must be satisfied with the choices she makes. D) The total spent on each good and service is the same.

Economics

Alternate Outputs from One Day's Labor Input: United States: 12 bushels of wheat or 3 yards of textiles. Great Britain: 3 bushels of wheat or 12 yards of textiles. The opportunity cost of one bushel of wheat in Great Britain is a. 1 yard of textiles

b. 3 yards of textiles. c. 12 yards of textiles. d. 4 yards of textiles.

Economics