Because the value of marginal product diminishes as the quantity of labor employed increases, the ________ the wage rate, the ________ workers the firm hires
A) lower; more
B) higher; more
C) lower; fewer
D) None of the above answers is correct because there is no relationship between the wage rate and the number of workers hired.
A
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Disintermediation resulted from
A) interest rate ceilings combined with inflation-driven increases in interest rates. B) elimination of Regulation Q (the regulation imposing interest rate ceilings on bank deposits). C) increases in federal income taxes. D) reserve requirements.
The official unemployment rate can be criticized for both understating and overstating the true number of unemployed
a. True b. False Indicate whether the statement is true or false
A two firm oligopoly is known as a
A. cartel. B. monopoly. C. duopoly. D. contestable market.
Discretionary fiscal policies that increase aggregate demand tend to result in
A. higher Real GDP ("RGDP") and a lower price level ("PI"). B. lower Real GDP ("RGDP") and a higher price level ("PI"). C. higher Real GDP ("RGDP") and a higher price level ("PI"). D. lower Real GDP ("RGDP") and a lower price level ("PI").