Which of the following is a cost associated with recessions and unemployment?
A. worsening of the nation's balance of payments
B. increased output in the future
C. increased real output
D. the psychological harm done to the unemployed
Answer: D
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The curve that shows the demand for labor for a purely competitive firm is
A) VMP. B) MP. C) MC. D) W/MP.
Larry's Lathe-makers Limited produces lathes, which are purchased by furniture manufacturers all over the world. The standard lathe depreciates over a twenty-five-year period. In the national income accounts, the lathes are classified as
A) inventory. B) raw materials. C) capital goods. D) intermediate goods.
Whenever a firm uses input X but not input Y, then at the chosen input combination:
A. MRTSXY ? PX/PY. B. MRTSXY ? PX/PY. C. MRTSXY = PX/PY. D. MRTSXY = -PX/PY.
The key assumption of the capital asset pricing model is that an investor cares only about his portfolio's
a. degree of diversification. b. expected income. c. level of risk. d. expected return and standard deviation.