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Economics Micro Unit 5

Which of the following will shift the supply curve for labor to the right?
A decrease in population
An increase in wealth
A decrease in the opportunity cost of leisure
An increase in labor market opportunities for women
An increase in the wage rate will
Shift the labor supply curve to the right
Shift the labor supply curve to the left
Cause an upward movement along the labor supply curve
Have no effect
An automobile factory employs either assembly line workers or robotic arms to produce automobile engines. In this case, labor and capital are considered
Independent
Complements
Substitutes
Supplements
If the marginal product of labor per dollar is greater than the marginal product of capital per dollar, which of the following is true?
Hire more labor
Rent more capital
Hire less labor
Not change its employment
The cost-minimization rule states that costs are minimized when
MRP is maximized
MFC is minimized
MP per dollar is equal for all factors
MP*P is equal for all factors
Which of the following is true in the case of a positive externality?
MSC>MSB
MPB>MSC
MSB>MPB
MSC>MPC
Marginal social benefit equals marginal private benefit plus
Marginal external benefit
Marginal private cost
Total external cost
Marginal social cost
Which of the following types of goods are always nonrival in consumption?
Public goods
Inferior foods
Common resources
Private goods
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