A) is the nominal wage divided by the price level. B) automatically increases with the cost of living. C) is the price level divided by the nominal wage. D) is the nominal wage multiplied by the price level. A) is the nominal wage divided by the price level. B) automatically increases with the cost of living. C) is the price level divided by the nominal wage. D) is the nominal wage multiplied by the price level.

Exam 3: Productivity, output, and Employment

Suppose the marginal product of labor is MPN = 200 - 0.5N Where N is aggregate employment.The aggregate quantity of labor supplied is 300 + 8w,where w is the real wage.What is the equilibrium quantity of employment?

(Multiple Choice)

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Question 61

The marginal product of labor (measured in units of output)of a firm is given by MPN = A(2000 - N) where A measures productivity and N is the number of labor hours used in production.Suppose the price of output is $6 per unit and A = 0.002. (a)What will be the demand for labor if the nominal wage is $18? (b)What will be the demand for labor if the nominal wage rises to $21?

(Essay)

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Question 62

Firms hire labor at the point where the

(Multiple Choice)

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Question 63

If the marginal product of capital doesn't change as the amount of capital increases,a figure showing the relationship between output and capital

(Multiple Choice)

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Question 64

If a country's working-age population increases and its wealth increases,then the labor supply curve

(Multiple Choice)

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Question 65

Suppose the marginal product of labor is MPN = 200 - 0.5N Where N is aggregate employment.The aggregate quantity of labor supplied is 300 + 8w,where w is the real wage.If a supply shock increases the marginal product of labor by 10 (to MPN = 210 - 0.5 N),by how much does the real wage increase?

(Multiple Choice)

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Question 66

Which of the following events would lead to an increase in the marginal product of labor for every quantity of labor?

(Multiple Choice)

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Question 67

How would each of the following events affect the level of employment and the real wage rate? (a)A tremendous boom occurs in the stock market,increasing people's wealth by $100 billion overnight. (b)A major government loan-guarantee program goes bust,losing $500 billion.To pay off the loss,the government announces that tax rates will rise 30% in the future. (c)A nuclear mishap contaminates all auto plants in the Detroit area,destroying their capital. (d)Medical science cures the common cold,causing fewer work days lost due to illness,thus greatly increasing labor productivity.

(Essay)

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Question 68

What is the unemployment rate if there are 170 million people employed,25 million people unemployed,and 35 million not in the labor force?

(Multiple Choice)

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Question 69

Changes in the capital stock occur ,and changes in the amount of labor that firms employ occur .

(Multiple Choice)

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Question 70

If Y = A × N × (75 + K/N),where K = 1000,N = 20,and A = 10,what happens if K doubles and N doubles?

(Multiple Choice)

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Question 71

The labor force participation rate is the percentage of the adult population that is

(Multiple Choice)

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Question 72

The government announces a tax increase on workers' wages to take effect in the future.What happens to current employment and the real wage rate?

(Multiple Choice)

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Question 73

A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the

(Multiple Choice)

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Question 74

The Widget Company has the following production function. If widgets sell for $6 each and the wage rate is $33,how many workers will the company hire?

(Multiple Choice)

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Question 75

Suppose that Freedonia has GDP equal to 2000 million,the capital stock is 1700 million,and the number of employees equals 70 million.The production function is Y = AK^0.25^N^0.75^.Total factor productivity of the economy is approximately equal to

(Multiple Choice)

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Question 76

Suppose the economy's production function is Y = AK^0.3^N^0.7^.Suppose K = 200,N = 2000,and A = 1.Calculate the marginal product of capital.

(Multiple Choice)

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Question 77

The real wage

(Multiple Choice)

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Question 78

In the production function Y = AF(K,N),A is ,K is ,and N is .

(Multiple Choice)

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Question 79

An adverse supply shock,such as a reduced supply of raw materials,would

(Multiple Choice)

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Question 80

Showing 61 - 80 of 111

Suppose the marginal product of labor is MPN = 200 - 0.5N Where N is aggregate employment.The aggregate quantity of labor supplied is 300 + 8w,where w is the real wage.What is the equilibrium quantity of employment?

Firms hire labor at the point where the

If the marginal product of capital doesn't change as the amount of capital increases,a figure showing the relationship between output and capital

If a country's working-age population increases and its wealth increases,then the labor supply curve

Suppose the marginal product of labor is MPN = 200 - 0.5N Where N is aggregate employment.The aggregate quantity of labor supplied is 300 + 8w,where w is the real wage.If a supply shock increases the marginal product of labor by 10 (to MPN = 210 - 0.5 N),by how much does the real wage increase?

Which of the following events would lead to an increase in the marginal product of labor for every quantity of labor?

What is the unemployment rate if there are 170 million people employed,25 million people unemployed,and 35 million not in the labor force?

Changes in the capital stock occur ,and changes in the amount of labor that firms employ occur .

If Y = A × N × (75 + K/N),where K = 1000,N = 20,and A = 10,what happens if K doubles and N doubles?

The labor force participation rate is the percentage of the adult population that is

The government announces a tax increase on workers' wages to take effect in the future.What happens to current employment and the real wage rate?

A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the

The Widget Company has the following production function. If widgets sell for $6 each and the wage rate is $33,how many workers will the company hire?

Suppose that Freedonia has GDP equal to 2000 million,the capital stock is 1700 million,and the number of employees equals 70 million.The production function is Y = AK^0.25^N^0.75^.Total factor productivity of the economy is approximately equal to

Suppose the economy's production function is Y = AK^0.3^N^0.7^.Suppose K = 200,N = 2000,and A = 1.Calculate the marginal product of capital.

The real wage

In the production function Y = AF(K,N),A is ,K is ,and N is .

An adverse supply shock,such as a reduced supply of raw materials,would

Introduction to Macroeconomics

The Measurement and Structure of the National Economy

Consumption, saving, and Investment

Saving and Investment in the Open Economy

Long-Run Economic Growth

The Asset Market, money, and Prices

Business Cycles

The Is-Lmad-As Model

Classical Business Cycle Analysis

Keynesianism: the Macroeconomics of Wage and Price Rigidity

Unemployment and Inflation

Exchange Rates, business Cycles, and Macroeconomic Policy in the Open Economy

Monetary Policy and the Federal Reserve System

Government Spending and Its Financing

Filters

Exam 3: Productivity, output, and Employment

Suppose the marginal product of labor is MPN = 200 - 0.5N Where N is aggregate employment.The aggregate quantity of labor supplied is 300 + 8w,where w is the real wage.What is the equilibrium quantity of employment?

Firms hire labor at the point where the

If the marginal product of capital doesn't change as the amount of capital increases,a figure showing the relationship between output and capital

If a country's working-age population increases and its wealth increases,then the labor supply curve

Suppose the marginal product of labor is MPN = 200 - 0.5N Where N is aggregate employment.The aggregate quantity of labor supplied is 300 + 8w,where w is the real wage.If a supply shock increases the marginal product of labor by 10 (to MPN = 210 - 0.5 N),by how much does the real wage increase?

Which of the following events would lead to an increase in the marginal product of labor for every quantity of labor?

What is the unemployment rate if there are 170 million people employed,25 million people unemployed,and 35 million not in the labor force?

Changes in the capital stock occur ________,and changes in the amount of labor that firms employ occur ________.

If Y = A × N × (75 + K/N),where K = 1000,N = 20,and A = 10,what happens if K doubles and N doubles?

The labor force participation rate is the percentage of the adult population that is

The government announces a tax increase on workers' wages to take effect in the future.What happens to current employment and the real wage rate?

A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the

The Widget Company has the following production function. If widgets sell for $6 each and the wage rate is $33,how many workers will the company hire?

Suppose that Freedonia has GDP equal to 2000 million,the capital stock is 1700 million,and the number of employees equals 70 million.The production function is Y = AK0.25N0.75.Total factor productivity of the economy is approximately equal to

Suppose the economy's production function is Y = AK0.3N0.7.Suppose K = 200,N = 2000,and A = 1.Calculate the marginal product of capital.

The real wage

In the production function Y = AF(K,N),A is ________,K is ________,and N is ________.

An adverse supply shock,such as a reduced supply of raw materials,would

Introduction to Macroeconomics

The Measurement and Structure of the National Economy

Consumption, saving, and Investment

Saving and Investment in the Open Economy

Long-Run Economic Growth

The Asset Market, money, and Prices

Business Cycles

The Is-Lmad-As Model

Classical Business Cycle Analysis

Keynesianism: the Macroeconomics of Wage and Price Rigidity

Unemployment and Inflation

Exchange Rates, business Cycles, and Macroeconomic Policy in the Open Economy

Monetary Policy and the Federal Reserve System

Government Spending and Its Financing

Filters

Changes in the capital stock occur ,and changes in the amount of labor that firms employ occur .

Suppose that Freedonia has GDP equal to 2000 million,the capital stock is 1700 million,and the number of employees equals 70 million.The production function is Y = AK^0.25^N^0.75^.Total factor productivity of the economy is approximately equal to

Suppose the economy's production function is Y = AK^0.3^N^0.7^.Suppose K = 200,N = 2000,and A = 1.Calculate the marginal product of capital.

In the production function Y = AF(K,N),A is ,K is ,and N is .