Other things remaining equal, total factor productivity will fall if _____
a. labor input grows more slowly than total output
b. capital input grows faster than total output
c. the economy's output divided by total inputs increases
d. the ratio of total output to the stock of labor and capital changes by zero percent
e. the ratio of total output to the stock of labor and capital increases
b
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Refer to Figure 4-1. Arnold's marginal benefit from consuming the third burrito is
A) $1.25. B) $1.50. C) $2.50. D) $6.00.
A requirement for acquiring a related firm to generate value is
a. it be profitable b. you be profitable c. y ou will alter operations because of the acquisition d. all synergies between the firms were exploited before the acquisition
A monopolistically competitive firm faces a relatively steeper demand curve than that of a perfectly competitive firm
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of a normative statement? a. The GDP growth rate has been unstable over five years
b. The tax rate should be reduced to improve the quality of life in an economy. c. The unemployment rate has been below the natural rate of unemployment in the U.S for the last 2 years. d. The inflation rate of 2015 exceeds the inflation rate of 2014.