If the MRP is less than the wage, the firm should hire more labor
a. True
b. False
Indicate whether the statement is true or false
False
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What two things determine the cost of production?
What will be an ideal response?
Evidence against market efficiency includes
A) failure of technical analysis to outperform the market. B) the random walk behavior of stock prices. C) the inability of mutual fund managers to consistently beat the market. D) the January effect.
The category of resources economists call "land" refers to all of the following, except:
a. natural gas. b. animals. c. oceans. d. minerals. e. buildings.
Which of the following is the formula used for computing an accounting profit?
A. accounting profits = total revenue - implicit costs B. accounting profits = total revenue - (implicit + explicit costs) C. accounting profits = total revenue - explicit costs D. accounting profits = total costs - total revenue