An example of a non-pecuniary job characteristic is
a. an end-of-the-year bonus.
b. salary.
c. a comfortable work environment.
d. over-time pay.
c. a comfortable work environment.
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Suppose that a market for a product is in equilibrium at a price of $3 per unit. At any price below $3 per unit
A) there will be an excess demand for the product. B) the quantity demanded of the product will be less than the quantity supplied of that product. C) there will be a surplus of that product. D) there will be an excess supply of the product.
Which of the following shifts the supply curve for good X leftward?
A) a situation in which quantity demanded exceeds quantity supplied B) an increase in the cost of the machinery used to produce X C) a technological advance in the production of X D) a decrease in the wages of workers employed to produce X
What is the budget line?
What will be an ideal response?
Firms will employ an input up to the point where
A. the input's price equals its marginal revenue product. B. its marginal cost equals its marginal product. C. the wage rate equals the productivity of capital. D. the input's price equals its marginal product.