The marginal wage is measured by
A. The change in total wages paid divided by the change in the quantity of labor employed.
B. Total wages paid divided by the quantity of labor employed.
C. The change in total wages paid divided by the change in the quantity of output produced.
D. The percentage change in wages divided by the percentage change in the quantity of labor employed.
Answer: A
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If people assume that future rates of inflation will ________, they are said to have adaptive expectations
A) not be related to inflation rates of the past B) follow the pattern of inflation rates in the past C) be higher than inflation rates of the past D) be lower than inflation rates of the past
Find the tax multiplier if the MPC is 0.75
a. ?4. b. ?3. c. 0.33. d. 3. e. 4.
When marginal product is rising, marginal costs will: a. rising
b. remaining unchanged. c. falling. d. rising by an equal amount.
The owners of a corporation are
a. stockholders b. managers c. sole proprietors d. partners e. at risk of bankruptcy if the firm makes losses