A competitive firm hires workers as long as:
a. marginal product of labor is positive.
b. value of marginal product of labor is positive.
c. marginal product of labor is greater than the wage rate.
d. value of marginal product of labor is greater than the wage rate.
D
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The International Monetary Fund's primary role under the Bretton Woods System was to be:
A. the issuer of gold. B. a short-term lender for countries with an excess of imports over exports. C. the clearinghouse for international transactions. D. the arbiter of trade disputes.
Which of the following statements is correct?
a. The expected future profitability of a corporation influences the demand for that corporation's stock. b. When a corporation sells stock as a means of raising funds it is engaging in debt finance. c. The owners of bonds sold by the Microsoft Corporation are part owners of that corporation. d. All bonds are, by definition, perpetuities.
As the time a person has to adjust to a price change increases, the elasticity of demand will ______.
a. decrease b. increase c. remain constant d. fluctuate
If real GDP in 2003 is $9 trillion and real GDP in 2004 is $9.27 trillion, then the economic growth rate in 2004 is ____.
a. 2.7 percent b. $0.27 trillion c. 3.0 percent d. $9.27 trillion