D. supplies of all factors of production. “The firm hires the factor up to the

D. supplies of all factors of production. “The firm hires the factor up to the point where the value of the factor”s marginal product is equal to the factor”s price.” This Statement applies to which factor of production? A. labor b. land c. capital d. All of the above are correct.

What happens to the labor supply in the pearpicking market when the wage paid to

What happens to the labor supply in the pearpicking market when the wage paid to apple pickers increases? A. The labor supply will stay unchanged until the wages paid to pear pickers change. B. The labor supply will decrease. C. The labor supply will increase. D. The labor supply may fall or rise, depending on the price of pears. What happens to the labor supply curves in both countries when Mexican workers leave Mexico and move to the United States? A. Labor supply decreases in Mexico and decreases in the United States. B. Labor supply increases in the United States and increases in Mexico. C. Labor supply increases in the United States and decreases in Mexico. D. Labor supply increases in Mexico and decreases in United States.

A. a decrease in output price b. a decrease in the amount of capital available f

A. a decrease in output price b. a decrease in the amount of capital available for workers to use c. an increase in the marginal productivity of workers d. All of the above are correct. Which of the following events could increase the demand for labor? A. a decrease in output price b. a decrease in the amount of capital available for workers to use c. an increase in the marginal productivity of workers d. All of the above are correct. Which of the following events could decrease the demand for labor? A. an increase in migrant workers b. an increase in the marginal productivity of workers c. a decrease in demand for the final product produced by labor d. a decrease in the labor supply When firms are able to increase the amount of physical capital available to workers, the a. marginal product of labor will decrease. B. value of the marginal product of labor will decrease. C. value of the marginal product of labor will increase. D. final product price will increase.

(Assume that the virus is lethal in half of the people who are exposed to the vi

(Assume that the virus is lethal in half of the people who are exposed to the virus.) Using the theory of wage determination, explain why wages in developing countries are typically quite low. A recent flood in the Midwest has destroyed much of the farmland that lies in fertile regions near the rivers. Describe the effect Of the flood on the marginal productivity of land, labor, and capital. How would the flood affect the price of inputs?

The labor supply curve shifts when a. employers need to hire more people. A. ch

The labor supply curve shifts when a. employers need to hire more people. A. changes in the number of women willing to work b. immigration of workers c. changing attitudes towards work d. All of the above are correct. Which of the following events would shift the labor supply curve? A. changes in the number of women willing to work b. immigration of workers c. changing attitudes towards work d. All of the above are correct.

Columbia Bank and Trust is considering giving Gallup Company a loan. Before doin

Columbia Bank and Trust is considering giving Gallup Company a loan. Before doing so, it decided that further discussions with Gallup’s accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $275,000. Discussions with the accountant reveal the following. 1. Gallup sold goods costing $55,000 to Bazil Company FOB shipping point on December 28. The goods are not expected to reach Brazil until January 12. The goods were not included in the physical inventory because they were not in the warehouse.2. The physical count of inventory did not include goods costing $95,000 that were shipped to Gallup FOB destination on December 27 and were still in transit at year-end.3. Gallup received goods costing $25,000 on January 2. The goods were not included in the physical count.4. Gallup sold goods costing $51,000 to Lamey of Canada FOB destination on December 30. The goods were recieved in Canada on January 8. They were not included in Gallups physical inventory.5.Gallup received goods costing $42,000 on Jan 2 that were shipped FOB destination on Dec 29. The shipment was a rush order that was supposed to arrive Dec 31. This purchase was included in the ending inventory of $275,000.Determine the correct inventory amount on Dec. 31.