Equal increases in government spending and taxes will exactly offset each other, leaving the equilibrium level of output unchanged
Indicate whether the statement is true or false
F
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An increase in the wage rate will decrease the demand for labor
a. True b. False
A beneficial technological change enhances the production of cranberries. At the same time, scientists discover the health benefits of cranberries. This will result in:
What will be an ideal response?
In the short run, the marginal cost of the first unit of output is $20, the marginal cost of producing the second unit of output is $16, and the marginal cost of producing the third unit of output is $12. The firm's total variable cost of producing three units of output is:
A. $12. B. $16. C. $20. D. $48.
A monopsonistic employer faces a
A. perfectly inelastic labor supply curve. B. MFC curve that is greater than the wage rate at each quantity of labor. C. MFC curve that is less than the wage rate at each quantity of labor. D. perfectly elastic labor supply curve.