An optimal level of output is one at which marginal profit > 0
a. True
b. False
Indicate whether the statement is true or false
False
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The figure above shows a local lawn cutting service's demand for labor curve when the price of cutting an acre of lawn is $50 per acre. If the price of lawn cutting rises to $60 per acre of lawn cut, the firm's demand for labor curve
A) shifts rightward. B) shifts leftward. C) does not shift at all, but the firm moves upward along the curve. D) None of the above because this change shifts the supply of labor curve.
What does job lock mean?
A. A tendency for workers to remain in their jobs to keep their insurance coverage B. A job where a time clock is used C. A job that provides insurance coverage only after several years of employment D. all of these answer options are correct.
Depreciation refers to a decrease in the value of a good caused by
A) an increase in the price level. B) a decrease in the price level. C) "wear and tear" of capital goods over time. D) the depreciation allowance. E) a decrease in purchasing power.
Which of the following would be most likely to encourage capital formation in a less-developed country?
A. the expectation of sustained high inflation B. the expectation that property rights will be highly secure in the years ahead C. the imposition of high tariffs and other restraints limiting imports D. higher personal and corporate tax rates