Use the following two statements to answer this question:I. The margin

1.Use the following two statements to answer this question:I. If the marginal product of labor is zero, the total product of labor is at its maximum.II If the marginal product of labor is at its maximum, the average product of labor is falling. 选项： A:Both I and II are true. B:I is true, and II is false. C:I is false, and II is true. D:Both I and II are false.

2.Consider the following statements when answering this questionI. If a firm employs only one variable factor of production, labor, and the marginal product of labor is constant, then the marginal costs of production are constant too.II. If a firm employs only one variable factor of production, labor, and the marginal product of labor is constant, then short-run average total costs cannot rise as output rises. 选项： A:I is true, and II is false. B:I is false, and II is true. C:I and II are both true. D:I and II are both false.

3.Consider the following statements when answering this question:I. If the marginal product of labor falls whenever more labor is used, and labor is the only factor of production used by the firm, than at every output level the firm's short-run average variable cost exceeds marginal cost.II. If labor obeys the law of diminishing returns, and is the only factor of production used by the firm, then at every output level short-run average variable costs exceed marginal costs. 选项： A:I is true, and II is false. B:I is false, and II is true. C:I and II are both true. D:I and II are both false.

4.An analyst does research about total, marginal and average product curve of labor. As more labor is hired, which of the following curves initially increases and then decreases A. The average product of labor curve, but not the total and marginal product of labor curve.B. The marginal product of labor curve, but not the total and average product of labor curve.C. Both the marginal product of labor and the average product of labor curve, but not the total product of labor curve.

5.Read the two statements below and indicate if they are true or false. 选项： A、I and II are both true. B、 I and II are both false. C、 I is true and II is false. D、 I is false and II is true.

6.Use the following statements to answer this question: I. Under perfect competition, an upward shift in the marginal cost curve (perhaps due to a higher price for a variable input) also shifts the average variable cost curve upward. II. Under perfect competition, an upward shift in the marginal cost curve (perhaps due to a higher price for a variable input) reduces firm output but may increase firm profits. 选项： A:I and II are true. B:I is true and II is false. C:II is true and I is false. D:I and II are false.

7.The average product of labor is equal to the 选项： A、total product divided by the total number of workers hired. B、total number of workers hired divided by the total product. C、slope of the marginal product of labor curve. D、Both answers B and C are correct.

8.Use the following statements to answer this question: I. If the extent of a market is broader, it is less likely that firms in the market can influence the market price. II. In determining whether two different products belong to the same market, it is necessary to know whether the two products can be used as substitutes for each other. 选项： A:I and II are both false. B:I is false, and II is true. C:I is true, and II is false. D:I and II are both true.

9. Read the two statements below and indicate if they are true or false.I. Autonomous expenditures change when GDP changes.II. Aggregate planned expenditure is the sum of planned consumption expenditure, investment, government expenditure, and net exports. 选项： A、 I and II are both true. B、 I and II are both false. C、 I is true and II is false. D、 I is false and II is true.

10.Use the following statements to answer this question: I. When the market price is held above the competitive price level, it is possible for the loss in consumer surplus to be fully captured by producers. II. When the market price is held above the competitive level, there is no deadweight loss because producer gains exactly equal consumer losses. 选项： A:I and II are true. B:I is true and II is false. C:II is true and I is false. D:I and II are false.

11.An increase in the minimum wage:I . Will move employers down the labor demand curve, causing the quantity of labor demanded to fall .II . Is likely to increase the supply of labor, as more people will be willing to work for the higher wage . 选项： A: Only I . B: Only II . C: Both I and II . D: Neither I nor II .

12.1.The additional output a firm gets from hiring an additional unit of labor is the选项： A:value of the marginal product of labor; B:total product of labor; C:marginal product of labor; D:average product of labor

13.Consider the following statements when answering this questionI.If a firm employs only one variable factor of production,labor,and the marginal product of labor is constant,then the marginal costs of production are constant too.II.If a firm employs only one variable factor of production,labor,and the marginal product of labor is constant,then short-run average total costs cannot rise as output rises

14.(I) Prices and returns for short-term bonds are less volatile than those for long-term bonds.(II) The prices of longer-maturity bonds respond more dramatically to changes in interest rates. 选项： A、I is true, II false. B、I is false, II true. C、Both are true. D、Both are false.

15. If the price level increases, but workers' money wage rates remain constant, which of the following is TRUE? I. The quantity of labor demanded will increase. II. The real wage rate will decrease. III. The demand for labor curve shifts rightward. 选项： A、 I only B、 I and II C、 II and III D、 I, II and III

16.If the price level increases, but workers' money wage rates remain constant, which of the following is TRUE? I. The quantity of labor demanded will increase. II. The real wage rate will decrease. III. The demand for labor curve shifts rightward.A.I onlyB.I and IIC.II and IIID.I, II and III

17.A monopolist produces a good using only one factor, labor. There are constant returns to scale in production, and the demand for the monopolist's product is described by a downward sloping straight line with slope -1. The monopolist faces a horizontal labor supply curve. If the monopolist chooses output to maximize profits, then the:选项： A:marginal cost of labor to the monopolist exceeds the wage. B:marginal product of labor times price of output equals the wage. C:marginal product of labor times price of output is less than the wage. D:marginal product of labor times price of output exceeds the wage.

18.In a certain textile firm, labor is the only short term variable input. The manager notices that themarginal product of labor is the same for each unit of labor, which implies that: 选项： A:the average product of labor is always greater that the marginal product of labor. B:the average product of labor is always equal to the marginal product of labor. C:the average product of labor is always less than the marginal product of labor. D:as more labor is used, the average product of labor falls. E:there is no unambiguous relationship between labor's marginal and average products.

19.At any given point on the curve, the slope of the total product curve always equals __A．the marginal product of the input.B．the change in input divided by the change in output.C．the average product of the input.D．the ratio of the marginal product and the average product.

20.156) The average product of labor exceeds the marginalproduct of laborAthproduct of labor is falling.B) when the average product of labor is risingC) when the marginal product of labor is at itsD) when throduct of labor is at its

21.Which of the following statements is correct?选项： A:The value of the marginal product curve is the labor demand curve for competitive, profit-maximizing firms.; B:A competitive, profit-maximizing firm hires workers up to the point where the value of the marginal product of labor equals the wage.; C:By hiring labor up to the point where the value of the marginal product of labor equals the wage, the firm is producing where price equals marginal cost.; D:All of the choices are correct.

22.Which of the following statements is correct?选项： A:The value of the marginal product curve is the labor demand curve for competitive, profit-maximizing firms.; B:A competitive, profit-maximizing firm hires workers up to the point where the value of the marginal product of labor equals the wage.; C:By hiring labor up to the point where the value of the marginal product of labor equals the wage, the firm is producing where price equals marginal cost.; D:All of the above are correct.