All consumption bundles along a given indifference curve are equally desirable
Indicate whether the statement is true or false
TRUE
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In the above figure, what is autonomous consumption?
A) $3.0 trillion B) $1.0 trillion C) $0.0 trillion D) $2.0 trillion
Which of the following market types has only a few competing firms?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly E) perfect competition and monopolistic competition
Marginal product of labor is:
a. the extra output produced by an additional worker, all else unchanged. b. the extra wage earned by an additional worker, all else unchanged. c. the total output produced when an extra worker is hired. d. the total revenue earned when an extra worker is hired.
Holding other factors constant, technological progress ________ the real wage and ________ employment.
A. increases; increases B. decreases; increases C. increases; does not change D. increases; decreases