Marginal revenue product is
A) marginal physical product times marginal factor cost.
B) marginal physical product times marginal revenue.
C) average physical product times marginal revenue.
D) marginal physical product times the wage rate.
Answer: B
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Which of the following statements is true?
A. There was a great deal of stagflation in the 1930s. B. The inflation rate fell during the Eisenhower Administration, but rose during the Reagan years. C. Output in the United States fell by about one-third between 1929 and 1933. D. The Medicare and Medicaid programs were inaugurated during the New Deal.
If a linear supply curve has a zero intercept, the elasticity of supply is always unitary
What will be an ideal response?
The coupon rate for a coupon bond is equal to the:
A. purchase price of the bond divided by the coupon payment. B. annual coupon payment divided by the selling price of the bond. C. annual coupon payment divided by the face value of the bond. D. annual coupon payment divided by the purchase price of the bond.
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher