Which of the following will cause an increase in the marginal product of capital (MPK)?
A) a decrease in the quantity of labor in use
B) an increase in labor productivity
C) a decrease in the quantity of capital in use
D) all of the above
E) none of the above
C
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Refer to the scenario above. If they are the only bidders in the auction, Tom will no longer bid when bidding reaches ________
A) $200 B) $210 C) $350 D) $500
Implicit costs are ________ and explicit costs are ________
A) costs that involve spending money; also costs that involve spending money B) nonmonetary costs; costs that involve spending money C) costs that involve spending money; nonmonetary costs D) nonmonetary costs; also nonmonetary costs
Which of the following assets had both the lowest average annual return and lowest risk between 1926 and 2011?
A) small company stocks B) large company stocks C) long-term corporate bonds D) U.S. Treasury bills
Concerning an investment project, which of the following is TRUE?
A) A risk-neutral individual is more likely to invest than a risk-averse individual. B) A risk-neutral individual is more likely to invest than a risk-loving individual. C) A risk-neutral individual is more less likely to invest than a risk-averse individual. D) Not enough information.