The firm should hire more labor as long as doing so adds more to ________ than it does to ________
a. costs; revenues
b. revenues; resources
c. costs; resources
d. revenues; costs
d
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How long is it worthwhile to continue searching for a $20 bill that you lost if you value your time at $5 an hour?
A) About 2 hours if there is a fifty percent chance of finding it. B) About 4 hours, regardless of the probability of finding it. C) Only so long as you expect to find it within the next four hours, which could mean far more than four hours of searching. D) You cannot make a rational decision without first knowing whether you will find it. E) You should not search at all because the lost bill is a sunk cost.
A decrease in United States net foreign direct investment would occur if
A) net capital flows increase. B) net foreign investment decreases. C) U.S. citizens have decreased the value of foreign stocks and bonds they own. D) U.S. citizens have decreased their building or purchasing of facilities in foreign countries.
Refer to Table 4-4. If a minimum wage of $10.00 an hour is mandated, what is the quantity of labor demanded?
A) 390,000 B) 370,000 C) 350,000 D) 40,000
Refer to Figure 23-1. According to the figure above, at what point is aggregate expenditure greater than GDP?
A) J B) K C) L D) none of the above