MPP is the additional output that results from a one-unit increase in use of the input.
Answer the following statement true (T) or false (F)
True
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Governments contribute to increased average labor productivity in each of the following ways except by:
A. allowing the free and open exchange of ideas. B. maintaining political stability. C. imposing taxes on wages. D. establishing well-defined property rights.
If the university administration plans to hike tuition charges in the hope of increasing tuition revenues, we know
A) they are assuming an elastic demand. B) they are assuming an inelastic demand. C) they cannot succeed because of the law of demand. D) they must be running in the red. E) they will only succeed if more students can be enrolled at no cost.
The Fed's use of the federal funds rate as an operating target in the 1970s resulted in
A) countercyclical monetary policy. B) too slow growth in M1 throughout the decade. C) procyclical monetary policy. D) too rapid growth in M1 throughout the decade.
When the economy is in equilibrium, there will be no unemployment or inflation
Indicate whether the statement is true or false