Marginal cost is always zero at the point of efficient scale
a. True
b. False
Indicate whether the statement is true or false
False
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The function of the interest rate in the Classical model was to keep the economy at full employment equilibrium by assuring that
A) actual saving equaled actual investment. B) actual saving equaled desired investment. C) desired saving equaled desired investment. D) desired saving equaled actual investment.
Which of the following is not a variable in the index of leading indicators?
a. Average work week. b. Duration of unemployment. c. Employment claims. d. New businesses.
If, in response to a growing demand for food, farmers create productive acreage by draining swamps,
a. the supply curve of land will be vertical b. these new acres will generate the largest rents of all acreages c. the MRP of land will increase d. all land will earn zero rents because of competition e. differential land rents will result
The principal benefit of unemployment insurance is that it
a. reduces the occurrence of unemployment in the economy. b. replaces income lost due to unemployment. c. increases labor force participation. d. helps reduce the period of unemployment.