The individual supply curve for labor is the relationship between the wage and the quantity of labor that:
A. all workers are willing to provide.
B. any given worker is willing to provide.
C. all firms are willing to employ.
D. any given firm is willing to employ.
Answer: B
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Giorgio wants to build a new distribution warehouse for his sporting goods business and is going to issue new shares of stock to do so. This is an example of using ________ for his building project
A) indirect finance B) direct finance C) dividends D) retained earnings
Refer to Scenario 3. The average variable cost of producing three units of output is:
A) $15. B) $25. C) $41.67 (approximate). D) $75.
The theory of economic growth divides the causes of growth into
A) elements affecting the output ratio and factors affecting population growth. B) elements affecting the output ratio and factors affecting inflation. C) elements affecting the amount of factor inputs available and the productivity of those inputs. D) None of the above.
According to the traditional Keynesian analysis, if the government increases spending by $10 million, then
A) consumption will increase, and so total expenditures will increase by more than $10 million. B) consumption will decrease, and so total expenditures will increase by less than the $10 million. C) consumption will remain the same, and so total expenditures will increase by exactly $10 million. D) consumption will increase or decrease, and so total expenditures will increase or decrease depending on the change in consumption.