Cards in this guide (26)
What is the distinction between marginal revenue product and marginal revenue
I'm thinking that marginal revenue product is the marginal
revenue on one product, and marginal revenue is the marginal
revenue on the whole firm sales...
I'm wondering the same thing but the above response is
incorrect. both terms imply values on one item as indicated by the
"marginal"
What is the goal of the Department of Housing and Urban Development
Provide subsidies in the form of mortgage and rental assistance
programs.
What describes the relationship between human capital and productivity
Increased human capital leads to increased productivity.
Which of these is sometimes included as a fourth factor of production
Which president formally changed the US dollar to a fiat currency
This occurred when Lyndon Johnson was president. John Kennedy
took preliminary steps.
What kinds of things could be considered capital resources
Buildings are considered capital. Cash and vehicles are not
considered capital.
What term is sometimes used to refer to factors of production
What is considered the passive factor in production
Which of these fourth factors of production is considered the knowledge cultural values and ideas that help the economy grow
How does a firm know when it can afford to hire more workers
if the MRP is greater than a firms MC
Which term refers to the cost a firm incurs for labor
Which term refers to the cost a firm incurs for capital goods
Which is classified as working capital
What is the additional revenue a firm gains when it hires an additional worker called
What defines the term labor as a factor of production
Labor is the human effort provided in the creation of products
and services.
What does the demand for labor contribute to
Demand for labor contributes to how much wages should be
What does acquired 100 shares mean
Generally speaking the phrase of "acquired 100 shares" means
that a person has purchased 100 shares of a corporation's
stock.
Which term refers to the decrease in value of goods after they are sold
What is the fourth factors of production measures the qualifications of a worker
Once a firm knows what it should produce what must it then decide
how it will produce the goods or services
Which amendment to the U.S constitution contains the due process and equal protection clauses
Items such as machinery buildings and other goods that are designed to increase the production potential of the economy are classified into which of these categories
Is not a factor in wage variance between different occupations
What is Considered one of the primary factors of production plus
Which of these would not be considered intellectual capital
Which of these defines the term financial capital
the amount of money a firm or individual has invested in a business
