Jennifer takes 2 hours to make a loaf of bread and 1 hour to make a dozen cookies. Janet takes 3 hours to make a loaf of bread and 3/4 hours to make a dozen cookies. Who, if either, has an absolute advantage baking bread? Who, if either, has an absolute advantage making cookies?

In the efficiency wage model with the efficiency wage above the market-clearing wage, the level of employment depends on

A) the intersection of labor supply and labor demand. B) the marginal productivity of capital and the marginal productivity of labor. C) labor demand alone. D) labor supply alone.

According to William Baumol, many corporate managers engage in empire-building

Indicate whether the statement is true or false