Problem 1. What is a demand for a productive resource, which is derived from the demand for the goods and services produced from that resource.
Problem 2. The elasticity of demand for labor depends on ?
Problem 3. List the key factors that have changed the supply of labor and that over the years have increased it.
Problem 4. Wages and employment have increased because the demand for labor has.
Problem 5. Which do the demand and supply in the labor market determine.
Problem 6. Which factors change the marginal revenue product of capital and bring changes in the demand for the capital?
Problem 7. The real interest rate and the capital stock are determined by.
Problem 8. What is the indifferent between option A, that gives $9,000 for sure and option B, which gives $3,000 with probability 1/3 or $18,000 with the probability 2/3. What is the cost of risk for option B?
Problem 9. Expected income is a weighted average in which the weights are.
Problem 10. What is the most importance influences on household income from the most to least.(1.age of household,2.education of member, 3. region, 4.type of household,5. size of household.)
Problem 11. If a person was offer 2 jobs. In one job, as a salesperson it has a 50% change to make $2,000 and a 50% change to make $6,000 The other job as a computer programmer, pays $3,900 with certainty. If I decline the sales job and and decides to work as a programmer I am a:
Problem 12. National defense is an example of ?
Problem 13. If I'm indifferent between option A, which gives me $10,000 for sure , and option B, which gives him $5,000 with a probability of 0.5,or option C which gives me $15,000 with the probability 0.5 I am :
Problem 14. What is the possible reason for government growth ?
Problem 15. If I took a job with guaranteed income of $35,000 per year over a job with an expected income of $45,000 a year which is true.
A) I'm a risk averse (B) A risk neutral(C) My expected utility from the job with the expected income of $45,000 is less then that from a job with guaranteed income of $35,000.
Problem 16. What are the main factors that affects the demands for regulations?
Problem 17. The smaller the consumer per buyer that results from regulation?
Problem 18. If a regulation benefits a large number of people, but by too small an amount per person to be noticed , that regulation:
Problem 19. What is the regulations that are supplied to attain allocative efficiency.
Problem 20. I must chose among options A, B, and C. Option A give me $10,000 for sure. Option B gives me $4,000 with a probability 0.5 or $16,000 with probability 0.5.Option C gives me $8,000 with probability 0.5 or $12,000 with probability 0.5. If he receives diminishing marginal utility from wealth, Which option will I chose.
Problem 21. When a quota is used to remedy the problem of the commons then what will take place: (A)the quota is set so that use of the resource is where marginal private benefit equals to marginal cost(B) the resource is where marginal private benefit equals marginal social benefits.(C) the market equilibrium but the not the efficient outcome is achieved.(D) all user of the resource have an incentive to cheat on the quota.
Problem 22. High -skilled worker have: (A) a lower marginal revenue product because they have higher wages(B) the same labor supply curves as do low skilled worker(C) more human capitals than do low -skilled worker.(D) or none of above.
Problem 23. What is the indifferent between option A which gives me $20,000 for sure, and option B which gives me $10,000 with a probability 0.5 or $32,000 with a probability 0.5 What is my cost of risk for option B?