The demand for factor inputs:
A. is generally constant across most factor markets.
B. depends upon the markets for the goods that they are used to produce.
C. is independent of how much they contribute to the value of the end product.
D. is referred to as imputed demand.
Answer: B
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An unintentional consequence of using mail-in ballots in a small community is:
A. decreased costs associated with voting. B. decreased pressure from others to fulfill their civic duty. C. increased costs associated with tallying the votes. D. increased pressure from government to vote.
A firm will never operate at a loss
Indicate whether the statement is true or false
If Joanna is risk averse, then
a. her utility function exhibits the property of decreasing utility. b. her utility function exhibits the property of increasing marginal utility. c. she dislikes bad things more than she likes comparable good things. d. she is unlike most people, because most people are not risk averse.
The crude quantity theory of money and the sophisticated quantity theory of money are approximately similar
A. in times of deflation. B. in times of high unemployment. C. in times of full employment. D. in no set of circumstances.