Of the three major categories of consumption, ________ is the most volatile because their purchase ________
A) services; is sensitive to income levels
B) nondurables; is sensitive to income levels
C) durables; can be postponed when incomes decline
D) durables; they are necessities
C
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What is a compensating differential?
What will be an ideal response?
Economic surplus is another term for which of the following?
a. efficiency b. consumer surplus c. social surplus d. deadweight loss
For a profit-maximizing, competitive firm, the value of the marginal product of labor
a. increases when the price of output decreases. b. is the firm's demand for labor. c. equals the marginal product of labor divided by the wage rate. d. All of the above are correct.
Which is NOT a factor that influences that favorableness of a leader?
a. leader-member relations b. task structure c. leader position power d. charisma level