1. Most of the total income earned in the U. S. economy is ultimately paid to houholds in the form of
a. profit. b. rent. c. interest. d. wages.
2. The factors of production are best defined as the
母亲节祝福语英语a. output produced from raw materials.
b. inputs ud to produce goods and rvices.
c. wages paid to the workforce.
d. goods and rvices sold in the market.
3. Economists refer to the inputs that firms u to produce goods and rvices as
a. derived factors. b. derived resources.
c. factors of production. d. instruments of revenue.
4. Becau a firm's demand for a factor of production is derived from its decision to supply a good in the market, it is called a
a. differentiated demand. b. condary demand.
c. derived demand. d. hybrid demand-supply.
5. The term "factor market" applies to the market for
a. labor. b. capital. c. land. reboot是什么意思>人文地理考研d. All of the above are correct.
6. Factor markets are different from product markets in an important way becau
a. equilibrium is the exception, and not the rule, in factor markets.
b. the demand for a factor of production is a derived demand.
c. the demand for a factor of production is likely to be upward sloping, in violation of the law of demand.
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d. All of the above are correct.
7. The basic tools of supply and demand apply to
huanghuaa. markets for goods and rvices and to markets for labor rvices.
b. markets for goods and rvices but not to markets for labor rvices.
c. markets for goods and rvices but not to markets for factors of production.
d. all markets except tho in which demand is derived demand.
8. When a firm is a profit maximizer
a. it is driven to produce as much of its product as possible.
b. it will measure its success by the number of employees it has.
thaadc. its revenue will always be maximized as well.
d. it does not care directly about the number of workers it hires.
9. Competitive firms decide how much output to ll by producing output until the price of the good equals
a. marginal product. b. the value of marginal product.
c. marginal cost. d. marginal profit.
10. Competitive firms hire workers until the additional benefit they receive from the last worker hired is equal to
(i)the additional cost of that worker.
(ii)the wage paid to that worker.
(iii)the marginal product of that worker.
a. (i) only b. (iii) only
c. (i) and (ii) d. (ii) and (iii)
英文论文11. Which of the following events could decrea the demand for labor?
a. an increa in migrant workers
b. an increa in the marginal productivity of workers
c. a decrea in demand for the final product produced by labor
d. a decrea in the labor supply
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12. Suppo that eight workers can manufacture 70 radios per day, and nine workers can manufacture 90 radios per day. If radios can be sold for $10 each, the value of marginal product of the ninth worker is
a. 20 radios. b. 90 radios. c. $200. d. $900.
大学英语六级分数线13. The negative slope of the value of marginal product curve is most easily explained by
a. tight labor markets. b. a surplus of workers.
c. diminishing marginal product. d. diminishing marginal cost.
14. What does an upward-sloping labor supply curve mean?
a. It means that workers prefer to buy more leisure time when their incomes increa.
b. It means that workers prefer to supply less labor when wages are high.
c. It means that an increa in the opportunity cost of leisure leads workers to increa the quantity of labor they supply.
d. All of the above are correct.
15. If workers respond to an increa in the opportunity cost of leisure by taking more leisure, then their labor supply curve is
a. upward sloping. b. downward sloping.
c. horizontal. d. vertical.
16. Among the people who are characterized below, who has the highest opportunity cost of leisure?
a. an attorney日语能力考试成绩查询律师 who earns $200 per hour and who plays golf during her leisure time
