The table above shows the PPF of an island community. This community's opportunity cost of producing 1 pound of fish ______
A. is the increase in the quantity of berries gathered as the quantity of fish increases by 1 pound
B. increases as the quantity of berries gathered increases
C. is 10 pounds of berries if the quantity of fish increases from 2 to 3 pounds
D. increases as the quantity of fish caught increases
D
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According to new growth theory
A) physical capital is nonexcludable. B) knowledge capital is subject to increasing returns. C) knowledge capital is rival and excludable. D) knowledge capital is excludable.
A major computer software company maintains a technical support center in a rural area and is the only employer in this region. Suppose the local labor supply curve shifts leftward due to net migration of workers from the area
What happens to the equilibrium outcome in this labor market? A) Labor demand shifts rightward, equilibrium wage and employment levels decline B) Labor demand shifts rightward, equilibrium wage and employment levels increase C) Labor demand curve remains the same, equilibrium wage and employment levels increase D) Labor demand curve remains the same, equilibrium wage increases, and employment declines