A firm finds that it must increase wages to attract extra workers. The firm will hire labor up to the point where the marginal:
A. Product of labor equals the wage rate
B. Revenue product of labor is greater than the wage rate
C. Revenue product of labor starts to decline
D. Revenue product equals the additional cost of hiring an extra worker
D. Revenue product equals the additional cost of hiring an extra worker
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Discouraged workers who are over 16 years old are
i. not counted as unemployed. ii. part of the working-age population. iii. part of the labor force. A) i only B) ii only C) i and ii D) ii and iii E) i, ii, and iii
Externalities between two firms can be "internalized" if: I. The two firms merge. II. Bargaining costs are zero. III. The externalities affect each firm equally. IV. Marginal costs for both firms are constant. Which statement(s) correctly complete(s) the sentence?
a. Only II. b. All except III. c. I and II, but not III and IV. d. I and IV, but not II and III
Technology spillovers are examples of negative externalities
a. True b. False Indicate whether the statement is true or false
If we counted the value of non-cash, or in-kind, benefits given to the poor by the government, the poverty rate would be
A. higher. B. lower. C. not affected.