A firm hires labor in a perfectly competitive labor market. If the wage rate is $44, the firm should hire
a. 44 workers
b. all units of labor whose marginal product is 44
c. all units of labor whose marginal revenue product is $44
d. all units of labor whose marginal revenue product is greater than or equal to $44
e. all units of labor whose marginal revenue product is less than or equal to $44
D
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Exhibit 36-2 Stock High Low Close Net chg. Dasher 17.25 16.75 17.00 (A) Dancer 34.85 34.25 (B) +0.25 Prancer 56.50 55.90 56.00 (C) Vixen 65.90 (D) 64.75 -0.75 Refer to Exhibit 36-2. If the closing price of Prancer's stock on the previous day was $55.50, what value goes in blank (C)?
A. +0.75 B. -0.50 C. +0.50 D. +0.25 E. There is not enough information given to answer this question.
Which of the following is true of squared forecast errors?
A. An error of +2 yields a greater loss than an error of ?2. B. An error of ?2 yields a greater loss than an error of +2. C. An error of ?2 or +2 yields the same loss. D. Loss from positive and negative forecast errors cannot be compared.
Which of the following is true about transactional relationships?
a. They are cost driven and arm's length b. They are vital to profitability c. They need and expect efficient service d. They do not have resources to waste with inefficient transactions, processes, processes, or partners e. All of the above
The natural level of output is the level of output that occurs when
A) the goods market and financial markets are in equilibrium. B) the economy is operating at the unemployment rate consistent with both the wage-setting and price-setting equations. C) the markup (m) is zero. D) the unemployment rate is zero. E) there are no discouraged workers in the economy.