A worker's contribution to the firm's revenue is measured directly by the worker's:
a. value of marginal product
b. marginal product multiplied by his/her wage.
c. marginal product minus his/her wage.
d. contribution to total output.
a
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If the Fed sells government bonds in the open market, it will cause:
A) a downward movement along the supply curve for reserves. B) a shift of the supply curve for reserves to the left. C) a shift of the supply curve for reserves to the right. D) an upward movement along the supply curve for reserves.
The existence of discouraged workers will lead to an official unemployment rate that is
A) overstated. B) understated. C) either overstated or understated. D) unbiased.
You observe that the demand for pomelo is given by Qd = 8,000-20Pand the supply of pomelo is given by Qs = 2,000 + 20P. What is the market equilibrium for pomelo?
A. P = 150, Q = 5,000 B. P = 500, Q = 16,000 C. P = 200, Q = 3,000 D. P = 50, Q = 2,500
Does the term "mandatory spending" mean that spending must go on forever?
A. Yes, once appropriated, spending is indefinite. B. No, once appropriated, spending is for the life of the program only or until it changes. C. Yes, the laws which authorized this spending cannot be changed. D. Yes, Congress has no right to change these spending programs.