Assuming all else equal, if the marginal product of labor rises, ________
A) there is a rightward movement along the labor demand curve
B) the labor demand curve shifts to the right
C) there is a leftward movement along the labor demand curve.
D) the labor demand curve shifts to the left
B
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Refer to the above figure. We are currently producing at point c. Which of the following statements is TRUE?
A) Resources are not being efficiently utilized. B) Resources are being efficiently utilized. C) The only way to produce more of Goods X or Y is to have an increase in the amount of resources. D) The Law of Increasing Additional Cost does not hold.
Total spending will equal total output
a. after inventory adjustments b. only when total leakages are equal to total injections c. by the end of every year d. only when the sum of saving and investment equals the sum of net taxes and government expenditures e. saving is equal to net taxes