The idea that rational employers think at the margin is central to understanding how many units of labor they choose to employ
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
In October of 20142, the interest rate on money market accounts was about 0.2 percent. In 2007, the interest rate on money market accounts was about 4.0 percent
What has been the impact on the demand for money curve from this fall in the interest rate? A) the money demand curve shifted to the right B) the money demand curve shifted to the left C) there was a downward movement along the demand for money curve D) there was an upward movement along the demand for money curve
Increasing marginal opportunity cost implies that
A) that rising opportunity costs makes it inefficient to produce beyond a certain quantity. B) the law of scarcity. C) the more resources already devoted to any activity, the benefits from allocating yet more resources to that activity decreases by progressively larger amounts. D) the more resources already devoted to any activity, the payoff from allocating yet more resources to that activity increases by progressively smaller amounts.
A structural stagnation is a:
A. business cycle with smaller fluctuations around the trend. B. business cycle with greater fluctuations around the trend. C. slow expansion that involves slower growth than the previous long run trend. D. business cycle in which unemployment rises during the downturn and rises during the expansion.
When gasoline prices rose in the early 2000s, the demand for SUVs fell. An economist would predict that SUV prices would decline or at least not rise as quickly.
Answer the following statement true (T) or false (F)