« previous next »

Author Question: In the DMP model A) the market wage is equal to the marginal product of labor. B) the market ... (Read 85 times)

Mr3Hunna

  • Hero Member
  • *****
  • Posts: 536
on: Jun 30, 2018
In the DMP model
 
  A) the market wage is equal to the marginal product of labor.
  B) the market wage is equal to the marginal rate of substitution of leisure for consumption.
  C) the wage is equal to the marginal rate of transformation.
  D) the wage is determined by bargaining between the firm and the worker.

Question 2

The rate at which a consumer is willing to give up consumption in one period for additional consumption in another is known as ________.
 
  A) the marginal propensity to save
  B) the marginal propensity to consume
  C) the marginal rate of substitution
  D) the average propensity to consume


ryrychapman11

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
A Model of Phonological Dyslexia A Model of Phonological Dyslexia
Model of how direct repeats generated during the insertion of a transposon or an insertion sequence Model of how direct repeats generated during the insertion of a transposon or an insertion sequence
Use the product rule to find derivative Use the product rule to find derivative
Phrenology model showing areas of the head overlaying brain regions that control different traits. I Phrenology model showing areas of the head overlaying brain regions that control different traits. I
Planet Z-34 has a mass equal to 1/3 that of Earth, a radius equal to 1/3 that of Earth, and an ... Planet Z-34 has a mass equal to 1/3 that of Earth, a radius equal to 1/3 that of Earth, and an ...
Video: Knee Animation

For a complete list of videos, visit our video library