The demand for labor depends on ________ and ________.
A. the rate of price inflation; the price of the output produced
B. the supply of labor; the price of output produced
C. the supply of labor; the marginal product of labor
D. the marginal product of labor; the price of output produced
Answer: D
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Refer to the scenario above. Which of the following combinations will lie above Jack's production possibilities curve?
A) 2 paintings and 3 sculptures B) 5 sculptures only C) 10 paintings only D) 3 paintings and 5 sculptures
Let's assume Ben can produce 3 units of a material good (M) or 3 units of a spiritual good (S) in a day, while Cal can produce 1 M or 2 Ss in a day. Both Ben and Cal can potentially produce a larger combination of M and S
A) if Ben specializes in S and Cal in M and they exchange with one another. B) if Ben specializes in M and Cal in S and they exchange with one another. C) if Ben specializes in both goods and doesn't exchange with Cal. D) only if Cal finds a way to also produce 3 M and 3 S per day.
According to the capture hypothesis, it appears that regulators eventually end up
A) adopting policies that benefit the firms being regulated. B) adopting policies that benefit consumers at the expense of the regulated firms. C) adopting policies that benefit no one. D) satisfying neither producers nor consumers, but striving to control as much as possible.
The actions taken by arbitrageurs in the foreign exchange markets
a. destabilize foreign exchange markets b. are highly risky c. have no effect on exchange rates d. help assure that exchange rates are equalized across all markets e. are the same as those undertaken by speculators