Which of the following statements is TRUE?
A) If average product equals marginal product, average product decreases.
B) If marginal product equals average product, average product is a maximum.
C) If marginal product equals average product, marginal product is a maximum.
D) If marginal product exceeds average product, marginal product increases.
B
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The earned income tax credit (or EITC):
A. reduces the sales tax paid by low-income workers. B. provides tax credits to firms who hire low-income workers. C. gives low-income workers credits on their federal income taxes. D. reduces the tax rate on investment income.
In this type of arrangement, any balances above a certain amount in a corporation's checking account at the end of the business day are "removed" and invested in overnight securities that pay the corporation interest
This innovation is referred to as a A) sweep account. B) share draft account. C) removed-repo account. D) stockman account.
Differences in what can explain the wage gap between U.S.-born and foreign-born workers?
(a) Culture (b) Schooling (c) Urbanization (d) All of the above
If an industry has exactly 10 firms with identical sales, the four-firm concentration ratio must be:
A. 10. B. 60. C. 90. D. 40.