The benefit to the firm from hiring one additional worker is called the
A) marginal revenue product of labor. B) total revenue.
C) marginal profit. D) marginal revenue.
A
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Annuity
What will be an ideal response?
When an economy is operating efficiently, the production of more of one good will result in the production of less of some other good because
What will be an ideal response?
If there is a shortage in a free market, then
A. suppliers will decrease their output to match demand. B. consumers will offer to pay a lower price for the good, and the price will fall toward the equilibrium level. C. suppliers will accept any price below equilibrium. D. consumers will offer to pay a higher price for the good, and the price will rise toward the equilibrium level.
The given data suggest that the amount of money that society wishes to hold as an asset:
Answer the question on the basis of the following table in which columns (1) and (2) indicate the transactions demand (D t ) for money and columns (1) and (3) show the asset demand (D a ) for money:
A. varies directly with the interest rate.
B. varies inversely with the interest rate.
C. varies inversely with nominal GDP.
D. is independent of the interest rate.