When a firm hires a worker for one hour, the marginal cost to that firm equals the:
A. hourly wage of that worker.
B. diminishing marginal productivity of that worker.
C. price of each item that the worker produces in that hour.
D. average total cost of production at the quantity produced.
Answer: A
You might also like to view...
Open market purchases and sales are conducted at the:
A) Federal Reserve Bank of Kansas City. B) Federal Reserve Bank of New York. C) Federal Reserve Bank of Chicago. D) Federal Reserve Bank of St. Louis.
A person is risk loving if:
A. for a given level of expected consumption, he prefers a risky bundle to a risk less one. B. his indifference curve is convex to the origin. C. his indifference curve is concave to the origin. D. his indifference curve is concave to the origin and for a given level of expected consumption, he prefers a risky bundle to a risk less one.
Suppose the Fed forecasts a reduction in excess reserve holdings by banks. It might offset the effect of this on the money supply by
A) buying government securities. B) lowering the required reserve ratio. C) lowering the discount rate. D) selling government securities. E) a, b, and c
If markets are perfectly competitive, the free-trade price of a good in an importing country is expected to be lower than the pre-trade price of the good in that country.
Answer the following statement true (T) or false (F)