Use the following graph for a monopolistically competitive firm to answer the next question.
Marginal revenue and marginal cost intersect at point
A. a.
B. b.
C. c.
D. d.
Answer: A
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Economist David Ricardo argued that rent
a. is unethical b. would be higher if the country opened its doors to international trade c. determines the value of the goods produced with the asset d. depends on price and not, as commonly thought, price depends on rent e. can only be earned on land
Janet is a farmer. Which of the following are included in her human capital?
a. her tractor and what she's learned from experience b. her tractor but not what she's learned from experience c. what she's learned from experience but not her tractor d. neither her tractor nor what she's learned from experience
What are the three motives for holding money?
A) the medium of exchange motive, the store of value motive, and the unit of account motive B) the transaction motive, the speculative motive, and the liquidity motive C) the transaction motive, the investment motive, and the liquidity motive D) the transaction motive, the speculative motive, and the precautionary motive
Replacing employment-based health care with a government-run system could reduce employers payments for their workers insurance, but the amount that they would have to pay in overall compensation
A) would remain essentially unchanged. B) would dramatically increase. C) would fall to zero. D) would dramatically decrease.