The curve that indicates how many workers a firm will hire at different wages is the factor's
A. marginal product curve.
B. supply curve.
C. marginal cost curve.
D. marginal revenue product curve.
Answer: D
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Total fixed cost
A) increases as output increases. B) does not change as output changes. C) decreases as output increases. D) initially decreases and then increases as output increases.
Why do some firms choose not to file for a patent and instead try to keep the results of their research a trade secret?
A) because firms must disclose information about the product or process being patented in a patent application B) because a patent only gives the inventor exclusive rights to a product or process for 5 years C) because trade secrets provide the same exclusive legal rights to a product as a patent does D) because trade secrets are never divulged
Refer to Figure 21-6. The loanable funds market is in equilibrium, as shown in the figure above
An increase in the supply of loanable funds could result in which of the following combinations of the real interest rate and quantity of loanable funds at a new equilibrium? A) The real interest rate is 3 percent, and the quantity of loanable funds is $90 million. B) The real interest rate is 3 percent, and the quantity of loanable funds is $150 million. C) The real interest rate is 5 percent, and the quantity of loanable funds is $90 million. D) The real interest rate is 5 percent, and the quantity of loanable funds is $150 million.
The short run Phillips curve
A) shows that any inflation rate can co-exist with the natural unemployment rate. B) shows the tradeoff between the inflation rate and the unemployment rate, and it shifts when the expected inflation rate changes. C) shows the relationship between the inflation rate and the expected inflation rate, and it shifts when the natural unemployment rate changes. D) shows the relationship between the inflation rate and the nominal interest rate, and it shifts when the natural unemployment rate changes. E) shows the tradeoff between the inflation rate and the unemployment rate and it shifts when the inflation rate changes.