Suppose at the current level of labor used, MRP = $100 and MFC = $100. To maximize profits, the firm should
A) hire more labor.
B) reduce the level of labor.
C) maintain the current level of labor.
D) shut down.
C
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The public debt is the
A. accumulation of all past deficits minus all past surpluses. B. amount of U.S. paper currency in circulation. C. ratio of all past deficits to all past surpluses. D. difference between current government expenditures and current tax revenues.
Another way to state the efficient markets hypothesis is: in an efficient market
A) unexploited profit opportunities will be quickly eliminated. B) unexploited profit opportunities will never exist. C) all prices can be accurately predicted. D) every financial market participant must be well informed about securities.
The basic characteristics of a pure capitalist system include the private ownership of the means of production and economic activity being coordinated through a system of markets and prices
a. True b. False Indicate whether the statement is true or false
The goal of utilitarians is to
a. punish crimes and enforce voluntary agreements but not to redistribute income. b. redistribute income until each person has equal earnings. c. redistribute income until the marginal utility of the wealthiest person equals the total utility of the poorest person. d. redistribute income based on the assumption of diminishing marginal utility.