A firm's demand curve for labor coincides with the:
A. marginal cost curve.
B. average cost curve.
C. marginal revenue curve.
D. marginal revenue product curve.
Answer: D
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Which statement best characterizes the classical economists' view of saving and investment?
A) Saving exceeds investment. B) Saving is less than investment. C) Saving equals investment. D) Saving and investment are not related to one another.
Are developing countries experiencing a demographic transition much like the one developed countries did at their earlier stages of economic development or are there important differences?
What will be an ideal response?
The slope of the demand for loanable funds curve represents the
a. positive relation between the real interest rate and investment. b. negative relation between the real interest rate and investment. c. positive relation between the real interest rate and saving. d. negative relation between the real interest rate and saving.
A good for which the demand falls when income rises
a. demand curve b. income effect c. elastic d. inferior good