The marginal revenue product of capital is not the
a. change in total revenue when one more unit of labor is hired
b. change in total revenue that results from adding one more unit of loanable funds to production
c. marginal contribution of capital to total revenue
d. firm's demand for capital curve
e. marginal physical product of capital multiplied by the price of the good
A
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In the context of sales taxation, SSTP stands for Simplified Sales Tax Project
a. True b. False
Price ceilings
A) cause quantity to be higher than in the market equilibrium. B) always increase consumer surplus. C) may decrease consumer surplus if demand is sufficiently elastic. D) may decrease consumer surplus if demand is sufficiently inelastic. E) always decrease consumer surplus.
A utility-maximizing consumer is currently spending all of his/her income on two products, A and B. The MU of the last unit of A consumed is 50, the price of A is $25, and the price of B is $10 . The MU of the last unit of B consumed is:
a. 50. b. 5. c. 2. d. 20. e. cannot determine from this limited information
When the money market is drawn with the value of money on the vertical axis, if the money supply rises
a. the price level and the value of money rise. b. the price level rises and the value of money falls. c. the price level falls and the value of money rises. d. the price level and the value of money fall.