Suppose a company sells its product for $5.00 . It's industrial engineers have informed management that hiring one additional worker will increase output by five units per hour. The company should hire the additional worker only if the wage rate is
a. $5.00 or less per hour.
b. $1.00 or more per hour.
c. $25.00 or less per hour.
d. none of the above.
C
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The act of buying a product at a low price in one market and reselling the product at a higher price in another market is called arbitrage
Indicate whether the statement is true or false
John Maynard Keynes and his followers argued that the Great Depression was primarily the result of:
a. excessive government spending. b. large budget deficits. c. the perverse monetary policies of the Fed. d. insufficient aggregate spending on goods and services.
IMF refers to the International Market Fund
Indicate whether the statement is true or false
If the demand for a good is elastic, then total revenue
a. increases as price increases. b. remains constant as quantity demanded increases. c. increases as price decreases. d. decreases as quantity demanded increases. e. decreases as price decreases.