The value of the marginal product of a resource is equal to:
a. the marginal revenue of the firm, if the product market is perfectly competitive.
b. the market price of the product divided by the price of the resource.
c. the market price of the product divided by the marginal product of the resource.
d. the marginal revenue product of the resource, if the product market is perfectly competitive.
e. the marginal product of the resource divided by the price of the resource.
d
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Capital deepening will occur as long as total saving is greater than depreciation
Indicate whether the statement is true or false
Why is the Doha Round called the Doha Development Round?
What will be an ideal response?
Deflation
a. is bad for lenders b. is good for borrowers c. is high inflation d. alone could boost people's real incomes e. explains why personal bankruptcies decline
In the Keynesian transmission mechanism, if the money market is in the liquidity trap, an increase in the money supply will
A) cause total expenditures and aggregate demand to increase. B) cause total expenditures and aggregate demand to decrease. C) have no impact on total expenditures and aggregate demand. D) cause total expenditures to increase and aggregate demand to decrease. E) cause total expenditures to decrease and aggregate demand to increase.