When firms internalize a negative externality, the market supply curve shifts to the left
a. True
b. False
Indicate whether the statement is true or false
True
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If the MPP of labor is 60 and the price of labor per period is $20, the MPP of machinery is 75, and the price of the machinery per period is $25, in order to achieve optimal input proportions, the firm should use
A. more labor and less machinery. B. more machinery and less labor. C. more labor with the same amount of machinery. D. the current combination.
The labor force does not include people in the working-age population who are:
A. employed. B. not actively trying to find a job. C. retired, a full-time student, or stay-at-home parent. D. employed part time.
In 2015, the level of U.S. real GDP was more than four times its 1965 level
a. True b. False Indicate whether the statement is true or false
If the cross-price elasticity of demand for two goods is negative, then the two goods are substitutes
a. True b. False Indicate whether the statement is true or false