When a firm's only variable input is labor, then the slope of the production function measures the
a. quantity of labor.
b. quantity of output.
c. total cost.
d. marginal product of labor.
d
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Which of the following is an important goal of the price index?
a. to show current GDP in dollars of inflated purchasing power b. to show current GDP in physical units of inflated purchasing power c. to show real GDP in dollars of constant purchasing power d. to show real GDP in physical units of constant purchasing power
In the short run (specificfactors) model, an FDI inflow into a country's manufacturing sector will cause:
a. an increase in the output of the agricultural sector. b. an increase in the employment in the agricultural sector . c. a decrease in the employment in the manufacturing sector . d. an increase in the output and employment in the manufacturing sector.
The demand for money is downward sloping, because at higher interest rates
A. the opportunity cost of holding cash is lower. B. the opportunity cost of holding money is decreasing. C. the opportunity cost of holding money is higher. D. the opportunity cost of holding money is constant.
Suppose the table below describes the demand for a good produced by monopolist.PriceQuantity$101$92$83$74$65$56$47Based on the data in the table, we know the firm should:
A. be able earn an economic profit. B. not produce the seventh unit. C. not produce the fifth unit. D. produce more than 7 units.