It is impossible to incorporate the value of human life into implicit and explicit cost-benefit analyses
Indicate whether the statement is true or false
FALSE
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After a shift in the aggregate demand curve, which variable adjusts to restore general equilibrium?
A) price level B) real interest rate C) consumption spending D) investment spending
The statement that there is an inverse relationship between x and y means that
a. x causes y b. y causes x c. x and y move in opposite directions d. either y causes x or x causes y e. there is no causal relationship between x and y
Economic growth is measured by the: a. advancement in the quality of a nation's technology
b. rate of business investment and capital formation. c. annual percentage change in per capita real output of goods and services. d. marginal change in nominal output divided by total output from the previous year.
The marginal factor cost for labor is
A. The net gain to a monopolist seller of labor if an additional unit of labor is hired. B. The demand for labor. C. The change in total costs that results from a one-unit increase in the quantity of a factor employed. D. The supply of labor.