Not buying junk food while doing the weekly shopping and forcing an extra trip to the store to acquire it is an example of:
A. increasing the cost of a vice.
B. a commitment device.
C. how people compensate for time-inconsistent decisions.
D. All of these are true.
D. All of these are true.
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Suppose a firm uses labor and capital to produce output. The last unit of labor hired has a marginal product of 12 units of output, and the last unit of capital employed has a marginal product of 20 units
Use the optimal combination of inputs rule to calculate the price of capital if the price of labor is $6 per unit. The price of capital is A) $2. B) $10. C) $20. D) impossible to determine with the information given.
In defining development to include more than just the growth of per capita income, there is an implicit assumption that the growth of per capita income alone is not sufficient to guarantee the reduction of poverty and the growth of self-esteem
Is it possible that there could be growth of per capita income without the achievement of these other objectives?