Tax saving so that people spend more and firms' profits are higher
Answer the following statement(s) true (T) or false (F)
Ans: False
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Under which of the following sets of circumstances is it definitely the case that the average product increases as more labor is hired?
A) Total product increases as more labor is hired. B) The marginal product is equal to the average product. C) The marginal product is positive. D) The marginal product is greater than the average product. E) The marginal product is less than the average product.
If the government makes a good illegal and then imposes stiffer penalties on illegal drug buyers than on sellers, the price of the good ________ and the quantity ________
A) falls; increases B) rises; decreases C) falls; decreases D) does not change; decreases
One of the problems with calculating the true amount of discrimination that takes place in the market for labor is
a. the inability to calculate wage differentials. b. the inability to see changes in the wage differentials over a period of time. c. the difficulty in measuring productivity differences between workers. d. the difficulty in measuring female labor-force participation.
Parity pricing refers to the relative price of farm products to nonfarm products in the period
A. 1910 B. 1930 C. 1985-2014. D. 1950