If a firm is a perfectly competitive purchaser of factor inputs and the wage rate is $10, the marginal factor cost for labor is
A) greater than $10.
B) less than $10.
C) $10.
D) indeterminate.
Answer: C
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Suppose an increase in disposable income from $3 trillion to $3.2 trillion increases consumption from $2.5 trillion to $2.6 trillion. The marginal propensity to consume is _____
a. 0.1 b. 0.2 c. 0.5 d. 0.8 e. 0.9
Persons who are retired or engaged in own-home housework are considered to be in which of the following categories?
A) in the civilian labor force B) not in the labor force C) employed D) unemployed
Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. This farmer's fixed costs are
A. $0. B. $24. C. $45. D. indeterminate unless we know the level of output the firm is producing.
For which of the following pairs of goods would most people likely have convex indifference curves?
A) nickels and dimes B) left shoes and right shoes C) movie tickets and concert tickets D) None of the above.