Firms will employ each input up to the point that its price equals its marginal revenue product.

Assume that the economy is in a recession and consumers are expecting a fall in their income levels. This will cause a(n):

A) left shift in the market demand for all goods. B) right shift in the market demand for all goods. C) increase in the total quantity demanded of all goods. D) decrease in the total quantity demanded of all goods.

In a cost-benefit analysis, the value of a human life is sometimes calculated on the basis of

a. the risks that a person voluntarily exposes herself to in her job and/or recreational choices. b. the value of each individual's assets. c. the belief that human life is priceless. d. the amount of resources required to adequately sustain life.