For a profit-maximizing competitive firm, the value of marginal product curve is
a. always rising.
b. falling only when marginal product is rising.
c. the labor supply curve.
d. the labor demand curve.
d
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Which of the following goods is both excludable and rival in consumption?
a. a wristwatch b. fire protection in a small town c. fish in the ocean d. efforts to fight poverty
Entry into a monopolistic competitive industry
A) is easy. B) is hard. C) requires governmental approval. D) requires collusion.
Who among the following is the most likely to invest in human capital?
A) A person with a low rate of time preference B) A person with a high rate of time preference C) A person with no time preference D) None of the above.
Since 1996, _____
a. U.S. productivity growth has skyrocketed, at least initially, as more computers were installed b. the computer sector has grown faster than the U.S. economy as a whole c. spending on computers has been approximately constant as a fraction of total U.S. investment spending d. the contribution of computers to U.S. productivity growth has been negative e. computing technology has not improved enough to have a measurable impact on U.S. productivity