If the wage rate is $5 per hour, regardless of how many laborers are employed, the
a. total labor cost curve is horizontal
b. total labor cost curve is upward sloping
c. MPP must be constant
d. total labor cost curve will increase at an increasing rate
e. total labor cost curve will increase at a decreasing rate
B
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Which of the following would be the best choice for the government of Paulina if it decides to increase its tax revenue?
a. Taxing a commodity with an elastic supply b. Taxing a commodity with an inelastic supply c. Reducing the tax on a commodity with an elastic demand d. Reducing the tax on a commodity with an inelastic demand
A sign that Country A is under pressure to appreciate its currency is its:
a. Overall balance is in surplus. b. Financial account is in surplus. c. Overall balance is in deficit. d. Reserves account is in surplus (i.e., positive). e. All of the above.