超星 - 第八章章节测试英文

单选题

A firm should hire more labor when the marginal revenue product of labor

A. equals the wage rate.
B. exceeds the wage rate.
C. is less than the wage rate.
D. Any of these can be true.
E. None of these are true.

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单选题

The marginal revenue product of labor is equal to

A. MPL * P.
B. MPL / P.
C. MPL * MR.
D. MPL / MR
E. MR / MPL

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单选题

The marginal revenue product can be expressed as the

A. additional revenue received from selling one more unit of product.
B. increment to revenue received from one additional unit of input hired.
C. marginal physical product of an input times the average revenue received from the sale of the product.
D. average physical product of the input times the marginal revenue received from the sale of the final product.

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单选题

Other things being equal, the marginal revenue product (MRP) curve for a competitive seller

A. lies below the MRP curve for a monopolist.
B. is identical to the MRP curve for a monopolist.
C. lies above the MRP curve for a monopolist.
D. is upward sloping whereas a monopolist has a downward sloping MRP curve.

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单选题

What can account for the negative slope of the marginal revenue product curve?

A. Diminishing marginal utility
B. Diminishing marginal returns
C. Monopsony power
D. All workers eventually begin slacking.
E. none of the above

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单选题

If the market for labor is perfectly competitive, the profit maximizing level of labor occurs where

A. MRPL < W (the wage).
B. MRPL = P (the output price).
C. MRPL just exceeds W.
D. MRPL = W.
E. none of the above

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单选题

If leisure is a normal good, then the income effect of a decrease in wage will

A. decrease the number of hours worked.
B. increase the number of hours worked.
C. decrease the number of leisure hours.
D. increase the sum of leisure plus hours worked.

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单选题

The substitution effect of a decrease in the wage will

A. decrease leisure, regardless of whether leisure is a normal or inferior good.
B. increase leisure, regardless of whether leisure is a normal or inferior good.
C. increase leisure only if leisure is a normal good.
D. decrease leisure only if leisure is a normal good.

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单选题

If an individual's labor supply curve is backward bending, then

A. the income effect associated with a higher wage is greater than the substitution effect.
B. the substitution effect associated with a higher wage is greater than the income effect.
C. the substitution effect associated with a higher wage encourages more leisure.
D. A and C
E. B and C

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单选题

An increase in technology that enhances labor productivity will likely result in:

A. a decrease in labor employment and an increase in the wage rate.
B. an increase in labor employment and an increase in the wage rate.
C. a decrease in labor employment and a decrease in the wage rate.
D. an increase in labor employment and a decrease in the wage rate.
E. employers using less labor and more capital while the wage effect is unknown.

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