The ________ of labor in a perfectly competitive labor market is the market wage rate.
A. supply
B. marginal cost of a unit
C. total cost
D. marginal revenue from a unit
Answer: B
Economics
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Which of the following shifts aggregate demand to the right?
a. Congress reduces purchases of new weapons systems. b. The Fed buys bonds in the open market. c. The price level falls. d. Net exports fall.
Economics
Refer to Table 19-13. Nominal GDP for Vicuna for 2013 equals
A) $4,920. B) $5,100. C) $5,300. D) $5,850.
Economics
If MU = MC = P, an economist can judge with certainty that the distribution of output is
a. fair. b. equal. c. unbiased. d. efficient.
Economics
The resources that a taxpayer devotes to complying with the tax laws are a type of
a. marginal tax. b. administrative burden. c. deadweight loss. d. Both b and c are correct.
Economics