An increasing marginal product of labor would be most commonly found
a. at high levels of employment
b. in perfect competition
c. at low levels of employment
d. when a product price is rising
e. when a product price is falling
C
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A bond has a current market value of $800. The holder of the bond will receive a single payment of $1,000 one year from now. The interest rate is 10 percent. The effective yield on the bond is:
A) $200. B) 10 percent. C) 25 percent. D) negative. E) The yield cannot be determined with the information provided.
Many U.S. producers complain about limited access to the Japanese market. They say that they cannot export to Japan because Japanese import restrictions are so severe. Who gains? Who loses?
a. Everyone loses. b. Japanese producers gain, U.S. producers and Japanese consumers lose. c. Japanese producers and consumers gain, U.S. producers and consumers lose. d. Japanese consumers and U.S. consumers gain, Japanese producers lose e. Everyone gains.
Creative destruction by innovation means
A. destruction of an innovative product once it fails in the market. B. introduction of an innovative product makes older substitute goods obsolete. C. substitute goods make innovative goods less competitive in the market. D. introduction of innovative goods increase the competition in the market
A firm's value added equals
A) its revenue minus all of its costs. B) its revenue minus its wages. C) its revenue minus its wages and profit. D) its revenue minus its cost of intermediate goods. E) none of the above