The supply curve for chicken will shift to the right, if production costs increase
a. True
b. False
Indicate whether the statement is true or false
False
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Making optimal decisions "at the margin" requires
A) making consistently irrational decisions. B) weighing the costs and benefits of a decision before deciding if it should be pursued. C) making decisions according to one's whims and fancies. D) making borderline decisions.
The quantity of hamburger that households are willing to purchase is predicted to rise if there is:
a. a fall in the price of hot dogs b. a fall in the price of hamburger buns c. a rise in the price of onion rings d. a rise in the price of catsup
If MRP < MLC, the firm
a. is employing the optimal quantity of workers b. should decrease the quantity of labor it employs c. should lower the wage rate d. should increase the quantity of labor it employs e. should raise the wage rate
Madison, a U.S. citizen, works only in Germany. The value she adds to production in Germany is included
a. in U.S. GDP, but it is not included in German GDP. b. in German GDP, but it is not included in U.S. GDP. c. in both German GDP and U.S. GDP. d. in neither German GDP nor U.S. GDP.