The term marginal revenue product (MRP) refers to the change in output if an additional worker is employed
a. True
b. False
B
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In the long-run ISLM model and with everything else held constant, the long-run effect of a tax cut is to ________ real output and ________ the interest rate
A) increase; increase B) increase; not change C) not change; increase D) not change; decrease
In what ways is government involved with the creation of barriers to entry?
What will be an ideal response?
Compared to proportional-representation systems, two-party systems are thought to:
A. lead to more diverse views in the policy process. B. offer a wider variety of platforms among which voters can choose. C. create unwieldy combinations of policies within one platform. D. be much less efficient and lead to very few compromises when voting.
The perfectly competitive firm's supply curve is:
a. that portion of the marginal cost curve which intersects and rises above the average total cost curve. b. that portion of the marginal cost curve which intersects and rises above the average variable cost curve. c. the entire marginal cost curve. d. the rising portion of the average variable cost curve.