In the long run, the price level in an economy is determined solely by _____
Fill in the blank(s) with the appropriate word(s).
the aggregate demand curve.
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The Solow growth model predicts that a lower labor force growth rate will lead to
A) a decreased steady state and higher break-even investment. B) higher productivity and a higher standard of living. C) a lower saving rate and decreased investment. D) a higher rate of dilution and lower break-even investment.
A firm wishes to fire an employee. The company will save up to $300 . per month on his compensation package. It is estimated that the employee contributes around $4,100 to the company. The firm
a. Should not fire the employee because the benefits outweigh the costs b. Should fire the employee if the hidden cost of not firing him is $500 c. Should fire the employee if the hidden cost of not firing him is $1500 d. Need more information
A dairy buys $50,000 worth of milk and spend $5,000 on cartons and utilities. It sells the cartons of milk to a grocery store for $60,000 that then sells all of the cartons to consumers for $65,000 . How much do these actions add to GDP?
a. $55,000 b. $65,000 c. $120,000 d. None of the above are correct.
Under monopsony, the wage rate
A) equals the marginal product of labor. B) equals the marginal revenue product of labor. C) is less than the marginal revenue product of labor. D) is greater than it would be under perfect competition.