If MFC > MRPL, the firm should
A) hire more workers.
B) lower wages.
C) get rid of some capital.
D) reduce the number of workers.
D
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Refer to Exhibit 10-3. When disposable income equals $2,300, saving equals
a. -$20. b. -$10. c. 0. d. $10. e. $20.
If actual inflation is lower than expected inflation,
A) there is a redistribution of wealth from borrowers to lenders. B) there is a redistribution of wealth from lenders to borrowers. C) there is no redistribution of wealth, but the total wealth in the economy increases. D) there is no redistribution of wealth, but the total wealth in the economy decreases.
Total costs increase from $1,500 to $1,800 when a firm increases output from 40 to 50 units. Which of the following are true?
a. FC = $400 b. FC = $100 c. MC = $30 d. MC = $300
Generally, specialization leads to
A) constant opportunity costs. B) greater productivity. C) reductions in people's skill levels. D) greater self-reliance.