If a product's demand decreases as its supply simultaneously increases, the marginal revenue product curve will
A. shift to the left.
B. remain unchanged.
C. shift to the right.
D. either shift to the left, shift to the right, or remain unchanged depending upon what happens to product price.
Answer: A
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When economists are trying to explain the world, they are
a. scientists. b. policy advisers. c. in the realm of microeconomics rather than macroeconomics. d. in the realm of normative economics rather than positive economics.
The fact that U.S. managers' salaries are substantially greater than those of comparable managers in Japan may be related to:
A. an increase in the demand for CEOs. B. the comparatively greater competitive markets in Japan. C. the greater number of public goods provided in the United States. D. an increase in the supply of CEOs.
The 'WHAT goods and services does the US produce' question can best be answered using data about which of the following?
A. Productivity. B. The distribution of GDP among different income quintiles. C. Per capita GDP. D. The distribution of output in markets, specifically among manufacturing, services, and agricultural sectors.
"Corporate profits" in the national income accounts consists of the following, except:
A. Retained earnings B. Interest C. Dividends D. Corporate income taxes