Refer to the diagram. If labor is the only variable input, the marginal product of labor is at a:
A. maximum at point a.
B. minimum at point a.
C. maximum at point b.
D. minimum at point b.
A. maximum at point a.
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Higher expected profits and business confidence ________ investment spending
A) decrease B) increase C) do not affect D) none of the above.
Individuals who lease a new car
A) have a higher discount rate than those who buy. B) have a lower discount rate than those who buy. C) have the same discount rate as those who buy. D) behave irrationally and are taken advantage of by car companies.
Voters will gather information on voting alternatives: a. when the cost of acquiring such information is exorbitantly high
b. as long as the marginal benefit to them of acquiring additional information exceeds the marginal cost to them. c. as long as the marginal benefit to them of the information is less than the marginal cost to them of gathering the information. d. because the welfare of the community is always perceived to be more important than the welfare of the individual.
Most state governments finance their budgets through ____, and most local governments finance their budgets through ____
a. income taxes; property taxes b. property taxes; sales taxes c. sales taxes; property taxes d. income taxes; sales taxes