If a publishing company purchases faster computers to speed up word processing,
a. the marginal product of its editors will increase, which will shift the demand for editors to the right
b. the marginal product of its editors will increase, which will shift the demand for editors to the left
c. the wages of its editors will increase, which will shift the demand for editors to the right
d. the wages of its editors will decrease, which will shift the demand for editors to the right
e. the supply of editors will decrease
A
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Answer the following statement(s) true (T) or false (F)
1. Title VI of the 1990 Clean Air Act Amendments specifically addressed the problem of tropospheric ozone. 2. To help the U.S. achieve its objectives to control ozone depletion, an escalating excise tax was levied on the production of ozone-depleting substances. 3. According to the Regulatory Impact Analysis (RIA) of the phaseout plan for ozone-depleting substances, the associated costs exceedthe expected benefits. 4. As the effective price of ozone-depleting substances rises due to the excise tax, the demand for substitute substances increases. 5. As a consequence of actions under the Montreal Protocol, the ozone depletion problem has been eliminated.
Your boss wants to know if you should lay off any workers. You answer that you should lay off workers if the
A. marginal revenue product of labor is equal to the nominal wage rate. B. marginal revenue product of labor is greater than the nominal wage rate. C. marginal product of labor is greater than or equal to the real wage rate. D. marginal product of labor is less than the real wage rate.