The establishment of well-defined property rights increases:
A. the unemployment rate.
B. the amount of pollution.
C. average labor productivity.
D. the labor force participation rate.
Answer: C
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Refer to Figure 13-4. If the firm represented in the diagram is currently producing and selling Qa units, what is the price charged?
A) P0 B) P1 C) P2 D) P3
Damian owns a tattoo parlor and has hired three tattoo artists to work for him. The marginal product of labor is 8 for the first artist, 12 for the second artist, and 7 for the third artist
What is Damian's average product of labor for these three tattoo artists?
The primary contribution of the theory of monopolistic competition is the rationale it provides for product differentiation and advertising
Indicate whether the statement is true or false
Which of the following illustrates how the investment accelerator works?
a. An increase in government expenditures increases the interest rate so that the Burgerville chain of restaurants decides to build fewer new restaurants. b. An increase in government expenditures increases aggregate spending so that Burgerville finds it profitable to build more new restaurants. c. An increase in government expenditures increases the interest rate so that the demand for stocks and bonds issued by Burgerville increases. d. An increase in government expenditures decreases the interest rate so that Burgerville decides to build more new restaurants.