Increases in the marginal product of labor result from
A) the use of new technology.
B) hiring more efficient workers.
C) the division of labor and specialization.
D) increasing the usage of all inputs.
Answer: C
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Profits that are reinvested in a firm rather than paid to the firm's owners are called
A) dividends. B) retained earnings. C) corporate bonds. D) stock options.
A monopolist earns only normal profits in the long run
a. True b. False Indicate whether the statement is true or false
A movement from one point to an another point on the same consumption function could be caused due to
a. changes in wealth. b. an increase in the general price level. c. decrease in the real interest rates. d. changes in disposable income.
According to Figure 17.7, improved management would most likely result in
A. A shift in the long-run aggregate supply from LRAS2 to LRAS1 B. A shift in the AD curve from AD1 to AD2. C. A shift in the AD curve from AD2 to AD1. D. A shift in the long-run aggregate supply from LRAS1 to LRAS2