Total product divided by the variable input is
A. average total cost.
B. average product.
C. marginal cost.
D. marginal product.
Answer: B
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Congestion pricing
A) is an estimation of the price of being off of work with the flu. B) is an attempt to internalize the external costs of driving. C) is the raising of taxes on gasoline to support the construction of mass urban transit systems. D) works fine in theory but cannot work in the real world because the technology is lacking.
Which of the following labor organizations was limited to skilled craft workers and emphasized that unions should control the place of employment; stick to wages, hours, and working conditions in their negotiations; win strikes; and, in politics,
"reward our friends and punish our enemies"? (a) The National Labor Union (b) The Knights of Labor (c) The American Federation of Labor (d) The American Labor Union
With respect to Friedman's natural rate theory, expansionary monetary policies can
a. move output above the natural rate but leave unemployment at the natural rate in the short-run. b. only affect inflation and not unemployment in the long-run. c. leave output at its natural rate with a simultaneous decrease in the natural rate of employment. d. move output and employment below the natural rate.
Policies that redistribute income
a. reduce the rewards of high-income earners. b. raise the rewards of low-income earners. c. reduce the incentive to earn high income. d. All of the above are correct.