An economy"s determinants of manufacturing and its manufacturing function determine the economy"s: output of items and also services. labor force participation rate. budobtain excess or deficit. populace expansion rate.

You are watching: A competitive, profit-maximizing firm hires labor until the:

At any particular allude in time, the output of the economy: varies because the innovation for turning resources and labor right into goods and also services varies. is solved because the supplies of capital and labor and the modern technology are addressed. varies bereason the offers of funding and also labor differ. is fixed bereason the demand also for items and solutions is solved.
A competitive, profit-maximizing firm hires labor till the: genuine wage amounts to the real rental price of capital. price of output multiplied by the marginal product of labor amounts to the wage. marginal product of labor equates to the wage. wage equals the rental price of funding.
According to the neoclassical theory of circulation, full output is split between payments to resources and payments to labor depending upon their: supply. family member political power. marginal productivities. equilibrium development prices.
In a Cobb-Douglas manufacturing attribute the marginal product of labor will boost if: the amount of resources rises. capital"s share of output boosts. the amount of labor rises. average labor performance decreases.
According to the neotimeless theory of circulation, in an economic situation described by a Cobb-Douglas manufacturing function, as soon as average labor productivity is growing rapidly: employees will suffer high prices of actual wage growth. labor"s share of total income will be increasing. labor"s share of revenue will be decreasing. economic earnings will certainly be positive.
If the usage feature is given by C = 150 + 0.85Y and also Y increases by 1 unit, then C increases by: 1 unit. 0.5 units. 0.15 systems. 0.85 units.
Other points equal, a boost in the interemainder price leads to: occasionally an increase and also occasionally a decrease in the amount of investment products demanded. no readjust in the amount of investment items demanded. a decrease in the quantity of investment goods demanded. a boost in the quantity of investment products demanded.
Consumption relies positively on ______ and investment counts negatively on ______. public saving; personal saving disposable income; the genuine interemainder rate private saving; public conserving the actual interest rate; disposable income
The equation Y=C(Y-T)+I(r)+G might be solved for the equilibrium level of: federal government purchases. revenue. the interest price. intake.
National saving refers to: revenue minus investment. income minus usage minus federal government spfinishing. disposable revenue minus intake. taxes minus federal government spfinishing.
In equilibrium, complete investment equals: exclusive conserving. public saving. household conserving. national saving.
If saving exceeds investment demand, and intake is not a function of the interemainder rate: conserving will fall. the interest rate will certainly rise. the interest rate will certainly fall. the demand also for loans exceeds the supply of loans.
According to the model arisen in Chapter 3, when government spending increases without a change in taxes: usage decreases. usage rises. investment decreases. investment rises.
In the neoclassic design through resolved income, if tbelow is a decrease in government spfinishing with no adjust in taxes, then public conserving ______ and also private saving ______. decreases; does not change decreases; increases increases; rises. increases; does not change
When federal government spending increases and also taxes are enhanced by an equal amount, interest rates: increase. remajor the same. decrease. have the right to differ wildly.

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Assume that a rise in consumer confidence raises consumers" expectations of future income and therefore the amount they desire to consume this day for any kind of given income. This shift, in a neoclassical economic climate, will: lower both investment and also the interest rate. raise investment and also lower the interemainder price. lower investment and also raise the interemainder rate. raise both investment and the interemainder price.
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