In a small Asian country, it is estimated that changing the level of capital from $8 million to $12 million will increase real GDP from $5 million to $6 million
If the number of hours worked in the labor force does not change, what does this information tell you about the slope of the per-worker production function in this range?
A) The slope is -4. B) The slope is 1/4. C) The slope is 4. D) The slope is 8.
B
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Indifference curves are drawn on a diagram with the
A) price of a good on the vertical axis and its quantity on the horizontal axis. B) price of one good on the vertical axis and the price of another good on the horizontal axis. C) quantity of a good on the vertical axis and its price on the horizontal axis. D) quantity of one good on the vertical axis and the quantity of another good on the horizontal axis.
The number and availability of discount brokers has grown rapidly since the mid-1970s. The efficient markets hypothesis predicts that people who use discount brokers
A) will likely earn lower returns than those who use full-service brokers. B) will likely earn about the same as those who use full-service brokers, but will net more after brokerage commissions. C) are going against evidence suggesting that full-service brokers can help outperform the market. D) are likely to outperform the market by a wide margin.