An increase in the supply of labor
a. increases the equilibrium wage and increases the value of the marginal product of labor.
b. increases the equilibrium wage and decreases the value of the marginal product of labor.
c. decreases the equilibrium wage and increases the value of the marginal product of labor.
d. decreases the equilibrium wage and decreases the value of the marginal product of labor.
d
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In the expansion phase of a business cycle
A. the inflation rate and productive capacity decrease. B. employment increases, but output decreases. C. the inflation rate decreases, but productive capacity increases. D. employment and output increase.
Food stamps are ______
a. financed by the federal government but administered by the states b. financed by the federal government and the states and administered by the states c. financed by the federal government and the states and administered by localities d. financed by the states but administered by the counties
Refer to the following graph.
The marginal utility curve associated with this total utility curve is:
A. a flat line with a slope of zero. B. a downward-sloping curve. C. an upward-sloping curve. D. indeterminate.
Recall the Application about setting the price of tickets for Major League Baseball games to answer the following question(s).According to the Application, due to the marginal revenue from ticket sales for a typical Major League Baseball team, the team could increase total revenue from ticket sales by ________ the price of tickets and ________ the quantity of tickets sold.
A. increasing; increasing B. increasing; decreasing C. decreasing; increasing D. decreasing; decreasing