Which of the following does not affect the wages a worker earns?
a. natural ability
b. effort
c. chance
d. All of the above affect the wages a worker earns.
d
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Referring to Figure 19.1, if the exchange rate is currently 11 pesos per dollar, then we expect the dollar to ________ and the peso to ________
A) depreciate; depreciate B) appreciate; depreciate C) depreciate; appreciate D) appreciate; appreciate
Of the following, when would the U.S. exchange rate rise the most?
A) when the supply of and demand for U.S. dollars increase B) when the supply of U.S. dollars increases and the demand for them decreases C) when the supply of U.S. dollars decreases and the demand for them increases D) when the supply of and demand for U.S. dollars decrease
If a firm is a price taker in both the input and output markets, its marginal revenue product of labor is given by:
a. the price of its output times the labor's marginal physical productivity. b. the marginal value product of labor. c. the marginal revenue product of capital times the ratio of the wage rate to the rental rate on capital. d. all of the above.
This table shows price and quantity produced for a single firm in a perfectly competitive market.PriceQuantity$1023$1024$1025$1026Given the information in the table shown, what is the marginal revenue when 25 units are produced?
A. $10 B. $25 C. $20 D. $250