In order to calculate the value of the marginal product of labor, a manager must know the marginal product of labor and the wage rate of the worker
a. True
b. False
Indicate whether the statement is true or false
False
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The theory of rational expectations, when applied to financial markets, is known as
A) monetarism. B) the efficient markets hypothesis. C) the theory of strict liability. D) the theory of impossibility.
Along an IS curve as interest rates __________, income must be __________ so that saving, which is a positive function of income, can be lower to equal the smaller level of investment
A) decline; lower B) decline; higher C) increase; lower D) increase; higher
You recently graduated from college and you are actively looking for employment. The economy has completely recovered from the last recession and you are taking your time looking for the "perfect" job. In the meantime, the unemployment you are experiencing is categorized as
A. structural. B. cyclical. C. frictional. D. seasonal.
When an economist states that "price changes cause quantity changes ceteris paribus", she is stating that price changes cause quantity changes
A. only in theory. B. always. C. only in efficient markets. D. all else equal.