An increase in the number of workers hired by a firm could result from
A. an increase in the real wage.
B. a decrease in the marginal product of labor.
C. a decrease in the marginal revenue product of labor.
D. a decrease in the real wage.
Answer: D
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Rent controls and controls on other prices often aggravate the very problem they are intended to solve.
Answer the following statement true (T) or false (F)
Marginal cost is the increase in total ________ that results from a one-unit increase in ________
A) fixed cost; the fixed input B) cost; output C) variable cost; the variable input D) fixed cost; output
In forward transactions,
A) the exchange takes place at the same exchange rate as in the spot market. B) currencies are exchanged at a set date in the future. C) currencies may only be exchanged at rates set by governments well in advance. D) currency is bought and sold for delivery later that same day.
Which of the following is not a reason for the Ricardian equivalence theorem to fail to hold?
A) tax distortions B) people can borrow from the government. C) finite-lived people. D) credit market imperfections.