For purposes of calculating the CPI, the housing category of consumer spending includes the cost of
a. shelter.
b. fuel and other utilities.
c. household furnishings and operation.
d. All of the above are correct.
d
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The figure above shows the marginal revenue and costs of a perfectly competitive firm. When the firm produces 170 units
A) marginal cost is less than marginal revenue. B) marginal revenue equals marginal cost. C) total revenue is less than total cost. D) total revenue equals total cost.
Information plays an important role in asset pricing because it allows the buyer to more accurately judge
A) liquidity. B) risk. C) capital. D) policy.
The additional revenue a firm obtains from employing one more unit of capital is called the
a. marginal revenue product of capital b. total product of capital c. marginal product of capital d. production function e. marginal product of labor
Under normal circumstances, the equilibrium compensation wage differential is the wage differential that exactly attracts the
A. marginal worker into the labor market. B. average high-skilled worker into a low-skill job. C. average worker into a regular job. D. marginal worker into a risky job. E. average worker into a less risky job.