Refer to the given data. If the market wage rate is $8 and the firm hires its profit-maximizing number of workers, the firm's total wage bill (payment) will be:
A. $16.
B. $24.
C. $32.
D. $48.
C. $32.
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As Rainclouds Inc moves downward along its production possibilities frontier, illustrated in the figure above, the opportunity cost of a raincoat ________
A) decreases B) depends on the initial quantity produced C) increases D) remains the same
Following a new deposit of $50 at a bank, drawn on funds previously held on deposit at another bank, when the reserve ratio is 10 percent, the maximum potential increase in the money supply will be
A) $0. B) $50. C) $400. D) $500.
The combination of two goods at which total utility is maximized must lie somewhere on the consumer's budget line
a. True b. False
Which of the following is one of the fundamental sources of long-run economic growth?
A. An reduction in local purchasing of the country's exportable products B. An increase in demand for the country's importable product C. An improvement in production technologies D. An expansion of foreign gross domestic product (GDP)