Select the positive statement that completes the sentence: If wages rise more rapidly than productivity:
A. profits will fall.
B. workers will earn 3/4 of GDP.
C. the rate of inflation increases.
D. policymakers should impose a wage ceiling.
Answer: D
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A firm's incentive to compare marginal revenue and marginal cost is an application of the principle that rational people think at the margin
a. True b. False Indicate whether the statement is true or false
Discuss differences in production technologies available in various countries as a basis for comparative advantage. In your answer, include a discussion of the role of and the location of R&D. In your answer, include a discussion of the role of and the location of R&D.
What will be an ideal response?
Refer to the scenario above. The winner of this auction will earn a surplus of ________ if he follows his dominant strategy
A) $100 B) $300 C) $400 D) $200