Regardless of whether you are looking through the microeconomics microscope or the macroeconomics telescope, the fundamental subject material of the interconnected __________ doesn’t change.
A. market
B. economy
C. production
D. firm
B. economy
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The MFC can be calculated by the
A) change in total wages/change in labor. B) total wages/total labor. C) change in labor/change in total wages. D) total wages/change in labor.
Which of the following is true of net taxes? a. The level of net taxes varies directly with the level of transfer payments. b. The level of net taxes varies inversely with the level of transfer payments. c. Net taxes must always be less than zero
d. Net taxes increase when income tax rates are reduced. e. Net taxes increase when income decreases.
Policies that make it more difficult to fire an employee likely lead to:
A. greater unemployment, because employers will be more hesitant to hire someone. B. greater unemployment, because employees will quit more often. C. less unemployment, because everyone will value their job more. D. less unemployment, because employers will not be able to fire as many people.
Consider an unregulated monopoly in Figure 8.13. At the firm's profit-maximizing output level, its total cost is:
A. $1,000,000. B. $200,000. C. $800,000. D. $600,000.