The law of diminishing marginal product is a reason why the demand curve for labor is downward sloping
a. True
b. False
Indicate whether the statement is true or false
True
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According to this Application, increases in unemployment insurance will ________ the total amount of employment
A) either increase or decrease B) have no effect on C) increase D) decrease
It is difficult to determine expected real rates of interest because
A) we never know exactly what inflation rates people anticipate. B) we cannot measure the nominal interest rate. C) the inflation rate is a subjective measurement. D) we cannot measure the inflation rate.
The first industry to use interchangeable parts in the U.S. was
(a) machine tools. (b) guns. (c) cotton textiles. (d) watches.
Total utility always decreases when additional amounts of a commodity are consumed
a. True b. False Indicate whether the statement is true or false