A. is $1. B. is $2. C. is $3. D. cannot be determined with the information given
A. 800 units.
B. 1,000 units.
C. 1,200 units.
D. 1,400 units.
Answer: B
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A firm will find it profitable to hire workers up to the point at which their
A. marginal resource cost is equal to their MRP. B. MP is equal to their MRP. C. marginal resource cost equals their wage rate. D. wage rate equals product price.
When observing economic growth and literacy rates, it is clear that: a. economic growth causes higher literacy rates
b. economic growth may be a consequence of improved education. c. improved levels of education may be the result of increasing economic growth. d. all of the above are likely to be true.
If the aggregate supply curve has its normal shape, deficit spending will increase
A. both GDP and the price level at about the same rate. B. the price level before it increases real GDP. C. the price level but decrease real GDP. D. real GDP before it increases the price level.
If the government uses a head tax to finance a public good, then the:
A. proportion of income paid in taxes increases as income rises. B. proportion of income paid in taxes declines as income rises. C. proportion of income paid in taxes is constant. D. dollar amount paid by each taxpayer declines as income rises.