« previous next »

Author Question: In the DMP model A) the market wage is equal to the marginal product of labor. B) the market ... (Read 49 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 average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

This modified model of Easton’s systems theory puts government decision makers as the source of pol This modified model of Easton’s systems theory puts government decision makers as the source of pol
Elementary particles included in the Standard Model Elementary particles included in the Standard Model
Lock and Key Model Lock and Key Model
An Alternative Model of Global Stratification An Alternative Model of Global Stratification
Sustainable Food Systems Model Sustainable Food Systems Model
Find derivative using product rule Find derivative using product rule
Video: Inflammation

For a complete list of videos, visit our video library