The matching function exhibits all of the following properties except
A) diminishing marginal product of labor.
B) constant returns to scale.
C) increasing in matching efficiency.
D) increasing in inputs of searching consumers and firms.
A
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Which of the following statements is FALSE?
A) The value of one more unit of a good is the good's marginal benefit. B) A good's marginal benefit is the maximum price people are willing to pay for another unit. C) The maximum price people are willing to pay for one more unit of a good is its value. D) None of the above because all the statements are true.
Which of the following will occur when an economy is faced with a liquidity trap situation?
A) A reduction in the price level will cause a rightward shift in the aggregate demand curve. B) A reduction in the price level will cause a leftward shift in the aggregate demand curve. C) The aggregate demand curve is now vertical. D) The aggregate demand curve is now upward sloping.