Suppose a country repealed its investment tax credit. The effects of this are represented by shifting the
a. demand for and the supply of loanable funds to the right.
b. demand for and the supply of loanable funds to the left.
c. supply of loanable funds to the right and the demand for loanable funds to the left.
d. None of the above is correct.
d
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Marginal labor cost is defined as the addition to
a. output a firm would receive after hiring one more laborer b. total cost from hiring one more laborer c. revenue earned by selling one more unit of a good d. revenue earned by hiring one more laborer e. output received by spending one more dollar on labor
The median voter theorem states that a. the median voter will never hold the decisive vote in an election. b. policies that are enacted will be least preferable to the median voter. c. the median voter will hold the decisive vote in an election
d. policies that are enacted will be most preferred by the median voter.
If a firm wants to maximize profits it should
A. hire lots of capital and very little labor since labor needs to be trained. B. equate the marginal revenue product for each input to the price of the input. C. equate the marginal product for each input to the price of the input. D. hire unskilled labor rather than skilled labor since unskilled labor is cheaper.
The last year we did not have a deficit in our current account was
A. 1960. B. 1973. C. 1986. D. 1991.