International trade usually benefits one trading partner while making the other trading partner worse off
a. True
b. False
Indicate whether the statement is true or false
False
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If a firm hires 312 workers it will produce 4,522 units of output. If it hires 313 workers it will produce 4,786 units of output. The marginal physical product of labor equals
A) 4,786. B) 313. C) 264. D) 1.
There are very few non-price means of undermining cartel agreements to restrict competition among members
a. True b. False Indicate whether the statement is true or false
If net taxes decrease, which of the following would occur?
a. Disposable income decreases, consumption at any income level increases, and the consumption-income line shifts upward. b. Disposable income increases, consumption at any income level increases, and the consumption-income line shifts downward. c. Disposable income increases, consumption at any income level increases, and the consumption-income line shifts upward. d. Disposable income decreases, consumption at any income level decreases, and the consumption-income line shifts downward. e. Disposable income increases, consumption at any income level decreases, and the consumption-income line shifts downward.
The assumption that individuals will not intentionally make decisions that will leave them worse off is known as
A) microeconomic analysis. B) macroeconomic analysis. C) a model or theory. D) the rationality assumption.