A local bar provides free pretzels and peanuts. Once a week it even provides chicken wings for only ten cents each. It is
A) selling drinks below cost.
B) selling pretzels, peanuts and wings below cost.
C) unfairly competing against other local bars who are unable to do the same.
D) almost certainly doing none of the above.
D
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The simplest calculation of the growth rate of multifactor productivity starts with the growth rate of real GDP and then
A) subtracts the growth rate of labor. B) subtracts the growth rate of capital. C) subtracts the growth rate of labor and some fraction of the growth rate of the capital-labor ratio. D) adds the growth rate of labor and then subtracts the depreciation and population growth rates.
A technological advance in the production of the first good increases the opportunity cost of the first good in terms of the second good
a. True b. False Indicate whether the statement is true or false