Which of the following does not correctly characterize modern economic growth?
A. It spread slowly across the globe, with some societies not having experienced it yet
B. It has occurred only in the last 200 or so years
C. It drastically alters the culture and politics of society
D. It has not affected the average lifespan of human beings
D. It has not affected the average lifespan of human beings
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The SAT (Scholastic Aptitude Test) is often used as a signaling device by colleges to find high- qualified students
High scores on this test can certainly communicate a lot of other qualities about a student that may make it an efficient sorting device. However, can you think of any reason why at least occasionally a high score might not signal the correct information?
David tunes pianos in his spare time for extra income. Buyers of his service are willing to pay $135 per tuning. One particular week, David is willing to tune the first piano for $115, the second piano for $125, the third piano for $140, and the fourth piano for $175 . Assume David is rational in deciding how many pianos to tune. His producer surplus is
a. $-15. b. $20. c. $30. d. $75.