For a wheat farmer in the middle of harvesting system, a fixed input would be
A. the land that had been planted.
B. trucks rented to haul the wheat.
C. workers hired.
D. combines rented.
Answer: A
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The marginal cost incurred by the entire society to produce a good or service is the
A) marginal external cost. B) marginal private cost. C) marginal social cost. D) marginal social benefit. E) marginal private benefit.
Households constitute the demand side of a labor market
a. True b. False Indicate whether the statement is true or false
A mathematical summary of inequality based on the Lorenz curve is known as the
A. Income distribution share. B. Gini coefficient. C. Okun coefficient. D. Lorenz coefficient.
The most important U.S. anti trust law:
a. Hampton Act b. Rule of Reason c. Sherman Act d. Wagner Act e. All of the above