If the real wage rises
A) firms will hire less labor. B) firms will hire additional labor.
C) the marginal cost of labor falls. D) the marginal benefit of the worker increases.
A
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Consider two economies: A and B. Economy A is located close to the equator and is characterized by an extreme climate. The terrain in economy A is inhospitable and it lacks rivers or other water bodies in its territory
On the other hand, economy B is located in the temperate zone with a pleasant climate, fertile soil, and navigable rivers. Suppose the geography hypothesis of economic growth holds. a) Which of the two economies is likely to be more prosperous? b) Is the difference in prosperity between the two economies likely to be sustained in the long run?
Which of the following is a condition for maximum profit?
A) VMP = W. B) VMP = MC. C) MP = W. D) MC = W.
The yield curve is the relationship between the:
a. Real interest rate and expected inflation rate. b. Domestic yield and foreign yield. c. Real yield (i.e., interest rate) and actual inflation. d. Nominal yield and time to maturity of a security. e. Nominal yield on corporate securities and the yield of government securities.
The longer one has to wait for a future payment, the greater the present value it has.
Answer the following statement true (T) or false (F)