The most important influence on the marginal revenue product schedule for computer software engineers would be a change in
A. their productivity.
B. a change in the price of laser printers.
C. a change in the demand for computer software.
D. a change in the quantity of capital available to produce computer software.
C. a change in the demand for computer software.
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There is a technological advance in a perfectly market. Which of the following statements is NOT true?
A) As more firms begin to use the new technology, the market supply increases and the price falls. B) Technological change brings permanent gains to producers and temporary gains to consumers. C) In the new long-run equilibrium, all the old-technology firms have exited. D) In the long-run equilibrium, competition eliminates any short-run economic profit.
One of the limitations of the national income accounting system is: a. valuing all output at its market price regardless of its contribution to society's economic welfare. b. placing a market value on all negative externalities
c. accurately measuring the value of leisure time. d. double counting food produced on a farm for family consumption. e. ignoring government production of goods and services.
The GDP of Country A is equal to $124.5 billion, and the consumption expenditure in the economy is $85.9 billion. The government of Country A charges a flat tax of 20 percent. The government also spends $4.5 billion per year in the form of transfer payments. The disposable income of the country is equal to: a. $99.6 billion
b. $104.1 billion. c. $124.5 billion. d. $129.0 billion.
When the price of a good rises, the demand for its complements will tend to rise
Indicate whether the statement is true or false