The marginal revenue product schedule is a
A. demand schedule for a final product.
B. demand schedule for a resource.
C. supply schedule for a final product.
D. supply schedule for a resource.
B. demand schedule for a resource.
You might also like to view...
The flexible accelerator theory
A) recognizes that the desired capital-output ratio is not a constant. B) assumes that firms can make this period's actual capital stock equal to the desired capital stock. C) sets this period's expected output equal to last period's actual output. D) recognizes that a constant fraction of the capital stock is replaced each period.
The Long-Run Phillips Curve is vertical, suggesting that ________
A) allowing inflation to rise will not succeed in keeping unemployment low B) changes in unemployment have no lasting impact on inflation C) shifts of the short-run Phillips curve impact inflation, but have no effect on unemployment D) all of the above E) none of the above
The neoclassical view is not especially helpful in explaining why __________ moves up and down over short time horizons of a few years.
a. demand b. unemployment c. prices d. inflation
The countries most likely to be successful at using trade retaliation are large trading countries.
a. true b. false