Suppose that a worker can produce 100 units of output in 7 hours. In the 8th hour, he can produce 12 units of output. The worker can produce 112 units of output in 8 hours
a. True
b. False
Indicate whether the statement is true or false
True
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In the loanable funds market, if the interest rate is above the equilibrium level
A) there is a shortage of loanable funds. B) there is a surplus of loanable funds. C) expected profit falls. D) government expenditure decreases.
The average number of weekly hours worked in manufacturing began to decline during World War I (1914–18)
Indicate whether the statement is true or false
An economic boom predicts the new equilibrium wage would be:
A. lower because the labor demand curve shifts left. B. higher because the labor demand curve shifts left. C. lower because the labor demand curve shifts right. D. higher because the labor demand curve shifts right.
Refer to the information below. If Normal University undertakes program Level Three:
Answer the question based on the following information. Normal University has found it necessary to institute a crime-control program on its campus to deal with the high costs of theft and vandalism. The university is now considering several alternative levels of crime control. This table shows the expected annual costs and benefits of these alternatives.
A. Total benefits will be less than total costs
B. Marginal costs will exceed marginal benefits
C. There would be an under-allocation of resources to crime control
D. There would be an over-allocation of resources to crime control