The change in total revenue due to one unit change in labor usage is called marginal revenue

Boyd Manufacturing operates in a perfectly competitive market. The firm recently purchased a new structure with an expected rate of return of 18 percent

If the market rate of interest is 10 percent, was the firm's decision to purchase the structure a wise one? Explain.

Answer the following statement(s) true (T) or false (F)

1. Falling real GDP per capita can bring on unemployment, bankruptcies, and many other human hardships. 2. With nonmarket transactions, no money is exchanged. 3. The underground economy is excluded from the GDP because it goes unreported to the government. 4. If people start taking more three-day weekends, GDP and people’ s economic well- being will necessarily drop. 5. The GDP often reflects important changes in the improvements in the quality of goods.