A curve that shows the relationship between the wage and the quantity of labor demanded in the short run is:
A. the marginal revenue product of labor curve.
B. the marginal revenue curve.
C. the marginal product of labor curve.
D. None of these
Answer: A
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Project Delay Prescott Labs is considering developing a defibrillator product. You know that will require extensive testing and possible modification before it can be launched. Still, you know that even if it is launched two years from now, the present
value of sales over the expected 10 year product lifecycle will cover these costs. But now the boys down at the lab tell you that it may not launch for three years. How does this affect your assessment of going ahead with funding the product?
Which of the following are complementary resources?
a. margarine and butter used in baking b. sugar and honey used in cereals c. a teacher and a chalkboard d. rye and wheat bread used in a sandwich shop e. a typewriter and a personal computer used in an office
The practice of making choices using generalizations based on observable characteristics like race, gender, or age is called:
A. discrimination. B. means-testing. C. conditional cash transfers. D. None of these is true.
Price indexes like the CPI are calculated using a base year. The term base year refers to:
A. the first year that price data are available. B. any year in which inflation was higher than 5 percent. C. the most recent year in which the business cycle hit the trough. D. an arbitrarily chosen reference year.