When costs are uncertain, a government might use a _____ contract, where the government pays the cost of the project plus an additional amount
a. fixed fee
b. cost plus fixed fee
c. cost plus percentage fee
d. cost plus incentive fee
b
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The value of the marginal product of labor equals the marginal product of labor times the:
A. price of output. B. real wage. C. nominal wage. D. quantity of labor.
If the number of employed people is 150 million, the number of unemployed people is 50 million, and the working-age population equals 285 million people, the labor force participation rate is
A) 70.2 percent. B) 81 percent. C) 17.5 percent. D) 25 percent. E) 52.6 percent.
Which of the following is not a benefit to lenders of financial intermediation?
a. Lower credit risks than the direct market. b. Lower liquidity risk than the direct market. c. Lower market risk than the direct market. d. More convenient than the direct market. e. All the above are benefits.
These are the cost and revenue curves associated with a firm.
If the firm in the given graph were to maximize profits, it would:
A. earn zero economic profits. B. cause deadweight loss. C. produce Q1 and charge P3. D. All of these statements are true.