If the credits for a principles of economics section is three units and an instructor teaches two sections with 100 students in each and tuition and fees at your school are $100 per unit, then the marginal revenue product for your school from hiring that instructor that semester is:
A. $100.
B. $300.
C. $30,000.
D. $60,000.
Answer: D
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Identify the correct statement
a. Investment is positively related to the interest rate. b. Investment spending in an economy is stimulated by new production technology. c. Investment is positively related to excess capacity. d. Investment spending is positively related to the cost of capital goods. e. Investment is negatively related to the rate of government spending.
At any quantity of output above the intersection of the marginal revenue and marginal cost curves:
A. ATC equal to AVC. B. MR is higher than MC. C. profits are being maximized. D. MR is lower than MC.
Which of the following is among the arguments against using government intervention to reduce income inequality?
A. Allowing big rewards to go to the most successful performers helps motivate creativity, innovation, and hard work. B. Governments cannot have much of an impact on income inequality, so there is little use in making the attempt. C. Large income differences eventually lead to political strife and will undermine support for a market economy. D. A wide gap between the rich and the poor tends to promote active participation in the democratic process.
Examine the effect Medicare and Medicaid have on the bills patients with private health insurance pay
What will be an ideal response?