This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In a perfectly competitive market, firms take: a. the money wage as exogenous, the price level as ... (Read 66 times)

mspears3

  • Hero Member
  • *****
  • Posts: 586
on: Jun 30, 2018
In a perfectly competitive market, firms take:
 
  a. the money wage as exogenous, the price level as endogenous.
  b. the money wage and price level as exogenous, the quantity of labor as endogenous.
  c. the money wage and price level as endogenous.
  d. the quantity of labor as exogenous.

Question 2

Assume the marginal propensity to consume is .8 . To offset a fall in income of 1,000, the government should
 
  a. increase taxes by 200.
  b. raise taxes by 250.
  c. increase government spending and taxes by 1,000.
  d. cut taxes by 200.
  e. both c and d.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

verrinzo

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

C


mspears3

  • Member
  • Posts: 586
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

FergA

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

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).

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Phrases that Decrease Customer Service Level Phrases that Decrease Customer Service Level
Numerical pain level chart with word modifiers. Numerical pain level chart with word modifiers.
Competitive inhibitor Competitive inhibitor
Kyoto Protocol encourages industry to innovate and reduce the level of emissions Kyoto Protocol encourages industry to innovate and reduce the level of emissions
The mole fraction of oxygen in dry air near sea level is 0.20948, where the molar mass of ... The mole fraction of oxygen in dry air near sea level is 0.20948, where the molar mass of ...
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: Introduction to Photolithography - WC, BLF, PA, Hard and Soft baking

For a complete list of videos, visit our video library