A firm's marginal revenue product curve is downward sloping, which means the derived demand curve for an input is downward sloping
a. True
b. False
A
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If there is a surplus of tacos, then the
A) quantity of tacos demanded equals the quantity of tacos supplied. B) quantity of tacos demanded is greater than the quantity of tacos supplied. C) quantity of tacos demanded is less than the quantity of tacos supplied. D) market is at equilibrium. E) supply curve of tacos will shift leftward to eliminate the surplus.
A numerical limit imposed by a government on the quantity of a good that can be imported into the country is called a
A) barricade. B) quota. C) tariff. D) quantity floor.
A price floor that is set above the equilibrium price
A) causes suppliers to lower their prices. B) is binding. C) is non-binding. D) creates a shortage.
Suppose you buy a bond with a face value of $1,000 for $800. What is the interest rate you receive on the bond?
A) 0.8% B) 1.25% C) 20% D) 25%