In the above table, the marginal cost of the ninth unit is
A. $5.00.
B. $7.00.
C. $6.00.
D. $4.00.
Answer: C
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Governmental rules that significantly promoted entrepreneurship first became prominent during the
a. Great Recession. b. Age of Enlightenment. c. Great Depression. d. Industrial Revolution.
Most studies indicate that the degree of income inequality in the United States has
a. been increasing in recent decades. b. been declining in recent decades. c. been constant since 1970. d. fluctuated widely from year to year.
If adopted by a firm, a labor-augmenting piece of technology is one that would:
A. increase labor supply. B. decrease labor demand. C. decrease labor supply. D. increase labor demand.
The assumption of short-run price stickiness implies:
a. that we must adjust nominal quantities for changes in inflation. b. that we must always allow for unexpected inflation. c. that expected inflation is zero and nominal quantities are the same as real. d. a balanced budget.