Refer to the data provided in Table 10.3 below to answer the following question(s).
Table 10.3 
Refer to Table 10.3. The most firms would be willing to pay per worker and hire three total workers is
A. $360.
B. $600.
C. $800.
D. $1,000.
Answer: D
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The Ricardian equivalence theorem implies that
A) government debt policy must be handled correctly for the economy to prosper. B) the amounts of government spending are neutral. C) an increase in government spending has no effect on the economy, as long as there is an equal change in taxes. D) the timing of taxes collected by the government is neutral.
Which of the following statements is correct?
a. The value of the marginal product curve is the labor demand curve for competitive, profit-maximizing firms. b. A competitive, profit-maximizing firm hires workers up to the point where the value of the marginal product of labor equals the wage. c. By hiring labor up to the point where the value of the marginal product of labor equals the wage, the firm is producing where price equals marginal cost. d. All of the above are correct.
Today, Medicare costs are shared between government and the insured
A. with government paying 25% of the cost. B. with government paying 100% of the cost. C. equally, on a 50-50 basis. D. with government paying 75% of the cost.
Banks require collateral for loans in order to
A) ensure that borrowers have significant amounts of their own funds invested in their businesses. B) charge higher interest rates on loans. C) reduce their tax liability on the interest they collect on loans. D) reduce the total amount they are obliged to lend to any one borrower.