After experiencing its first budget surplus in 30 years in 1998, for how many consecutive years following that did the budget remain in a surplus state?
A) 1 B) 2 C) 3 D) 4
C
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Suppose a 20 percent increase in the price of gasoline results in a 25 percent increase in the quantity supplied. This response means that gasoline has
A) an elastic supply. B) an inelastic supply. C) a unit elastic supply. D) an inelastic demand. E) an elastic demand.
Labor resistance can be a major impediment to increased productivity in many firms
Indicate whether the statement is true or false
The rate of interest is determined by the
a. quantity of money available on the market b. supply and demand for loanable funds c. marginal factor cost of capital d. firm's MRP and the price of the good e. firm's MPP and the price of the good
Which of the following statement is correct?
A) When Marginal Product is greater than Average Product, Average Product is increasing. B) When Marginal Product is greater than Average Product, Average Product is decreasing. C) When Marginal Product is greater than Average Product, Average Product is equal to Total Product. D) When Marginal Product is greater than Average Product, Total Product is increasing at a decreasing rate.