As a competitive firm hires increasing amounts of labor, the value of marginal product of labor
A) decreases.
B) increases.
C) remains constant.
D) decreases then increases.
A
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The negative effect of having more potential volunteers resulting in a reduced likelihood of a beneficial outcome is known as the
A) diffusion effect. B) externalizing effect. C) group dynamic effect. D) size effect.
The believer in policy ________ must be pessimistic about the ability of the private economy to self-stabilize and ________ about the accuracy of economic forecasting
A) activism, pessimistic B) activism, optimistic C) rules, pessimistic D) rules, optimistic
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.
If the real exchange rate rises 4%, domestic inflation is 2%, and foreign inflation is 0%, what is the percent change in the nominal exchange rate?
A) 6% B) 4% C) 2% D) 0%