Which of the following is not true about the demand for factors of production?
A. It is a function of diminishing marginal physical product.
B. It depends on the firm's expected sales and output.
C. It is derived from the demand for the goods and services the firm produces.
D. It is a function of the elasticity of supply.
Answer: D
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Suppose both wages and employment increase. These changes most likely were caused by
A. a decrease in labor supply. B. an increase in labor demand. C. an increase in labor supply. D. a decrease in labor demand.
What factors lie behind capital inflows to the developing world?
What will be an ideal response?
According to Keynes' fixed money wage theory, when the price level is higher than expected the real wage is ____ than expected and unemployment is ______ than expected
a. lower; lower b. higher, higher c. lower; higher d. higher; lower
In 2012, approximately what percent of the national debt was held by federal government agencies?
a. 1 percent b. 19 percent c. 29 percent d. a little more than 80 percent