If an employer currently finds that the MRP of its labor resources equals $67, and the MFC equals $56, what would you advise the firm to do?
A. Stay at its current output level.
B. Hire additional workers.
C. Raise product prices.
D. Reduce employment.
Answer: B
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Canada has nationalized health care, so that everyone, regardless of their ability to pay, has some access to health care
Based on this observation, Canada has decided that "everyone, regardless of their ability to pay" is the answer to what microeconomic question? A) What type of health care will be produced and in what quantity? B) How will health care be produced? C) For whom will health care be produced? D) Why will we offer health care? E) Must we offer health care?
A problem with the TANF program's predecessor AFDC was that it was strictly means-tested
a. True b. False
Portfolio investment is defined as
A) the purchase of less than 40 percent of the shares of ownership in a company in another country. B) the acquisition of more than 40 percent of the shares of ownership in a company in another country. C) the diversification of purchasing shares in many companies in one country so that risk is kept to a minimum. D) none of the above
A monopolistically competitive firm is producing an output level at which marginal revenue is less than marginal cost. This firm should __________ quantity and __________ price to increase profit or reduce losses
a. increase, increase b. increase; decrease c. decrease; increase d. decrease; decrease e. increase; not change