Who said, "The whole of science is nothing more than the refinement of everyday thinking"?
a. Isaac Newton
b. Albert Einstein
c. Adam Smith
d. Benjamin Franklin
b
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Suppose MPL = 40 and MPK = 20 and the rental rate on capital is $10 . If the level of production is currently efficient, the wage rate must be
a. $10 b. $5 c. $20 d. $40
If the exchange rate is above equilibrium, there will be ________ in the foreign exchange market
A) a surplus B) a shortage C) a decrease in the demand for domestic currency D) an increase in the demand for domestic currency
Describe the trends and fluctuations in the U.S. employment-to-population ratio and labor force participation rate from 1980 to 2014
What will be an ideal response?
Firms that set prices equal to marginal costs will usually recover all of their R&D costs.
Answer the following statement true (T) or false (F)