As long as the additional revenue from employing another worker exceeds the additional cost, the firm should not hire that worker
Indicate whether the statement is true or false
false
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The economy is at full employment and then aggregate demand increases. Describe what happens as an immediate result of the increase in aggregate demand. Describe how the economy adjusts back to full employment
What will be an ideal response?
If the GDP deflator rises from 185 to 190, what is the rate of inflation between the two years?
A) 270% B) 50% C) 5% D) 2.7%
The spectacular growth in international banking can be explained by
A) the rapid growth in international trade. B) the 1988 Basel Agreement. C) the collapse of the Bretton Woods system. D) the creation of the World Trade Organization.
According to the above figure, a shortage will occur at a price at which
A) quantity demanded equals quantity supplied. B) quantity demanded exceeds quantity supplied. C) quantity supplied exceeds quantity demanded. D) government sets a price above equilibrium.