Which of the following best describes a tradeoff?
a. An office executive enrolling into a management course to develop her skills.
b. An investor buying stocks of a start-up company.
c. A businessman investing a portion of company's profit in research and development.
d. A college student sacrificing a few hours of study time to work at the town cafeteria.
e. A worker purchasing a new car with her bonus earnings.
d
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In a winner-take-all labor market,
a. anyone who is hired at any wage is a winner b. any firm that can hire a worker is a winner c. a few key people critical to the overall success of the enterprise are rewarded with substantial pay d. the person most critical to the overall success of an enterprise is rewarded with substantial pay, and everyone else is paid the median wage e. only one worker is paid
The term net exports refers to:
a. the situation in which a country's exports exceed its imports. b. the situation in which a country's imports exceed its exports. c. the shortages that result when a country imposes a price ceiling. d. the shortages that result when a country imposes a price floor. e. the difference between the value of exports and the value of imports.