Marginal revenue product is increasing as
A. the marginal physical product is increasing, other things equal.
B. the amount of time is increasing, other things equal.
C. the revenue from sales decreases, other things equal.
D. the revenue from one more unit produced falls, other things equal.
Answer: A
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Which of the following variables will shift the classical aggregate demand curve?
a. An increase in government spending b. A decrease in taxes c. An increase in autonomous investment expenditures d. An increase in the money stock e. All of the above
Which of the following market transactions of final goods and services are excluded from the computation of U.S. GDP? a. Purchases of products such as wine, beer, hard liquor, and cigarettes. b. Secondhand transactions, such as when a used car is sold
c. New purchase that a resident of one state makes in a different state. d. Purchases of necessities such as groceries and rent.
Fred Powell of TruLite makes a verbal pledge to every new employee that he will not lay off employees after they have worked for TruLite for two years and that TruLite will make all promotions internally. Why would Powell make such a pledge? Why is the pledge oral?
What will be an ideal response?
The theory of efficiency wages suggests that firms may pay above-equilibrium wages
a. to reduce employee turnover. b. to prevent unions from recruiting members. c. to reduce the need for minimum wage laws. d. to increase the demand for better-skilled workers.