The marginal revenue product curve for labor is the demand curve for labor.
Answer the following statement true (T) or false (F)
True
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Gross Domestic Product is equal to the sum of consumption expenditure, investment, net exports, and ________
A) government expenditures on goods and services B) saving C) profits D) net taxes
With respect to U.S. Treasury bills,
A) the bid price is always greater than the asked price. B) the asked price is always greater than the bid price. C) the bid price is only greater than the asked price if investors expect interest rates to decline in the future. D) the asked price is only greater than the bid price if investors expect interest rates to decline in the future.
The greater the elasticities of supply and demand, the smaller are the gains from trade
a. True b. False Indicate whether the statement is true or false
The idea that similar foreign and domestic goods, or baskets of goods, should have the same price when priced in terms of the same currency is called
A. equity. B. efficiency. C. the tragedy of the commons. D. purchasing power parity.