If a firm wants to maximize profits it should
A) hire lots of capital and very little labor since labor needs to be trained.
B) hire unskilled labor rather than skilled labor since unskilled labor is cheaper.
C) equate the marginal physical product for each input to the price of the input.
D) equate the marginal revenue product for each input to the price of the input.
D
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In the late 2000s, which source of funds for corporations grew the most?
A) net new stock issues B) net new bond issues C) net new loans D) net new commercial paper
When the current U.S. income tax system was instituted in 1913, the rate on the highest tax bracket was _____
a. 28 percent b. 1 percent c. 15 percent d. 7 percent
The federal government buys $10 million worth of aircraft engines from General Motors. If the MPC is .80 what will be the impact on aggregate demand, other things being equal? a. Aggregate demand will increase $8 million
b. Aggregate demand will increase $12.5 million. c. Aggregate demand will increase $18 million. d. Aggregate demand will increase $50 million.
A patent provides legal protection for an invention for
A) 7 years. B) 11 years. C) 20 years. D) as long as the invention is valuable.