Do policies that alter the distribution of income also entail a change in property rights?
A) It is impossible to tell because of the uncertainty such policies create.
B) Not if they are confined to changing relative prices.
C) Not if they redistribute income without confiscating anyone's wealth.
D) They do so necessarily.
D
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What are the principal sources of change in productivity growth?
What will be an ideal response?
As the price of a competitive firm's product rises, the firm's demand for labor also rises
a. True b. False Indicate whether the statement is true or false
In the short run, a monopoly should shut down whenever
a. marginal revenue exceeds marginal cost b. price is less than average total cost c. total revenue is less than total cost d. price exceeds the ratio of marginal cost to average cost at the optimal output e. price is less than average variable cost everywhere
If diminishing marginal returns have already set in for Danica's Dog Training Emporium and the marginal product of the fifth dog trainer is 18, then the marginal product of the fourth dog trainer must be
A. less than 18. B. negative. C. zero. D. greater than 18.