An input's marginal revenue product is given by:
a. the input's marginal expense times marginal revenue.
b. the input's marginal expense times the input's marginal physical productivity.
c. marginal revenue times the number of units employed.
d. the input's marginal physical productivity times marginal revenue of the firm's output.
d
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Using the table above, the labor force participation rate is
A) 83.3 percent. B) 90.0 percent. C) 10.0 percent. D) 11.1 percent. E) 100 percent.
One type of financial intermediary now falling in relative importance is
A) money market mutual funds. B) pension funds. C) thrift institutions. D) mutual funds.
The neoclassical growth theory implies that
A) the marginal product of capital is low in poor countries. B) the rate of return on capital is low in poor countries. C) there should be large flows of capital from rich countries to poor countries. D) all of the above.
Which of the following best resembles a perfectly competitive market?
a. a stock market b. the book publishing industry c. the steel industry d. the used car industry