What is net marginal revenue?
A) The same as marginal profit.
B) The additional revenue the firm earns from an extra unit of an internally produced intermediate input.
C) The additional revenue the firm earns from producing one more unit of output.
D) The additional revenue the firm earns from selling one more unit of output.
B
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Labor productivity is defined as
A) the amount of workers per unit of input. B) the amount of input per worker. C) the increase in output per unit of machinery. D) the amount of output per worker.
If monetary equilibrium were to occur
A) inflation would not occur. B) deflation would not occur. C) the price level would be stable. D) all of the above would be true. E) none of the above would be true.
Advances in productivity per acre can harm farmers by
a. reducing the uses for their farm goods b. increasing the price of farm goods, thereby reducing incomes c. increasing supply, thereby reducing farm prices and incomes d. increasing the demand for their goods so that consumers are priced out of the market e. decreasing the number of acres cultivated per farm
Based on the following information, what is the balance on the current account?
Exports of goods and services = $12 billion
Imports of goods and services= $14 billion
Net income on investments = -$4 billion
Net transfers = -$1 billion
Increase in foreign holdings of assets in the United States = $6 billion
Increase in U.S. holdings of assets in foreign countries = -$3 billion
A) -$7 Billion
B) -$3 billion
C) -$2 billion
D $1 billion