When net exports are positive,
a. exports are greater than imports
b. imports are greater than exports
c. imports are greater than investments
d. exports are greater than depreciation spending
e. exports are greater than net investment
A
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The marginal revenue product of an hour of labor used in steel production is equal to
A. its marginal physical product times the hourly wage rate. B. its marginal physical product times the price of steel. C. the hourly wage rate. D. its marginal physical product divided by the price of steel.
A change in expectations in the new classical model
a. shifts the aggregate supply curve. b. must reflect a change in the anticipated changes in the economy. c. shifts the aggregate demand curve. d. both a and b. e. none of the above.
If Slick Shades, a sunglasses manufacturer, merges with Best Lens, a lens manufacturer, and the combined firm is able to reduce the number of human resource departments from two to one, the merger created ________.
A) a hold-up problem B) synergies C) technological interdependencies D) managerial diseconomies
Other things equal, granting unemployment benefits or welfare benefits to striking workers
A) reduces the likelihood of a strike since management will be more cooperative. B) reduces the costs of a strike to workers and will increase their willingness to strike. C) reduces the likelihood of a strike since union workers make wages significantly above unemployment benefits or welfare payments. D) increases the willingness of management to permit a strike.