The contribution of an additional worker to a firm's ____, is the worker's contribution to revenue minus the worker's ____
a. profits; wage
b. output; wage
c. profits; marginal productivity
d. output; marginal productivity
a
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During the winter of 1997-1998, the northeastern United States experienced warmer than usual conditions. The price of home heating oil was less than it was during the previous winter, but people bought less home heating oil
This contradicts the Law of Demand. Indicate whether the statement is true or false
Price-fixing agreements among competing firms are a violation of the Sherman Antitrust Act
a. True b. False
Advocates of active stabilization policies, in defense of their views, argue that
a. stabilization is less necessary than is commonly advocated by monetarists. b. discretionary policy in not necessary because automatic stabilizers are sufficient. c. perfect stabilization is not possible, but moderate improvements in economic performance are possible, such as the response to the events of September 11, 2001. d. All of the above are correct.
Commodity-backed money is:
A. money used for the exchange of large commodities. B. money created by rule. C. any form of money that can be legally exchanged into a fixed amount of an underlying commodity. D. any form of money that also has a role as a commodity.