The real wages of workers will tend to be high when
a. output per worker is high.
b. capital is scarce.
c. industries are automating at a slow rate.
d. profits are low.
A
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Woody wants to open a pet store and needs to buy a building. Both the nominal interest rate and the inflation rate increase by 2 percent. Now, Woody a. will not buy the building. b. is more likely to buy the building
c. is less likely to buy the building. d. is just as likely to buy the building as before.
Use the above table. Adam has 3 apples and 3 oranges. Eve has 2 apples and 2 oranges. Eve asks Adam to give her an apple in exchange for an orange. Should Eve go through with this exchange?
A. No. Adam likes apples more than oranges. B. Yes. She is indifferent between consuming apples and oranges. C. Yes. This way she will have 3 apples, which will give her more total satisfaction. D. No. She gives up more satisfaction than she gets.