Refer to the above figure. The firm is operating using MRP0. An increase in productivity has occurred. The relevant curve for the firm after the increase in productivity
A. is MRP0.
B. is MRP1.
C. is MRP2.
D. could be MRP1 or MRP2 depending upon whether the firm was earning a positive profit.
Answer: C
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Based on the information in the above table, what is the unemployment rate?
What will be an ideal response?
Nudges are meant to:
A. change the incentives of choices offered in order to alter behavior. B. limit the choices available in order to affect people's behavior. C. control people's behavior on the basis of the goals of government. D. affect people's behavior while allowing them to retain free choice.
The amount earned by owners of the nation's factors of production is
A. the wages and fringe benefits received by the nation's workers. B. private and government transfer payments. C. total income. D. all profits received by businesses.
The absolute price elasticity of demand would be the lowest for
A. automobiles. B. movie tickets. C. sugar. D. Mr. Donut coffee.