The individual demand curve for an input such as labor to a firm would be the downward sloping portion of the firm's
A) marginal physical product curve.
B) marginal revenue product curve.
C) marginal revenue curve.
D) total revenue curve.
Answer: B
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An American farmer today feeds over ______ people.
A. 15 B. 30 C. 50 D. 100
Tenth National Bank holds $300 million in total deposits and $35 million in reserves. With a required reserve ratio of 9.5 percent, how much in excess reserves is Tenth National holding?
a.31.7 million b. 28.5 million c. 3.3 million d. 6.5 million
A decrease in the tax rate on capital gains can:
A. Reduce the level of investment. B. Result in economic growth. C. Reduce the level of saving. D. Cause crowding out
If the elasticity of demand is 3, and the price rises by 15 percent, then
A. The percentage change in quantity demanded will fall as income rises. B. The quantity demanded will rise by 4.5 percent. C. The quantity demanded will fall by 45 percent. D. The quantity demanded will increase by 5 percent.