More than 70 percent of national income is attributed to
a. compensation of employees
b. rental income
c. corporate profit
d. net interest
e. proprietors' income
A
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With all other inputs held fixed, the marginal product of any input must eventually increase as more of that input is hired. ?
Answer the following statement true (T) or false (F)
Productivity per worker has increased in the past primarily through
a. hiring more teenagers. b. hiring more women. c. medical benefits. d. technological development.
You currently subscribe to two magazines and are trying to decide whether you should subscribe to a third. What should determine your decision, if you are rational?
a. the total cost of the magazines compared to the total satisfaction you would receive b. the total amount of satisfaction you would get from the magazines c. the enjoyment you would get from the third magazine d. the cost of the third magazine, including the time it takes to read it e. the cost of the third magazine compared to the additional enjoyment you would get from it
The term government failure refers to the:
A. Large losses suffered by publicly owned water, gas, and electric companies B. Large number of bankruptcies that have occurred recently among local governments C. Economically inefficient outcomes caused by voting problems or incentive structures in government D. Inability of government agencies to provide adequate police protection in low-income neighborhoods