
9th Quiz
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The idea that the demand for auto workers stems from the demand for automobiles is
the value of the marginal product of auto workers.
derived demand.
indirect demand.
output demand.
2.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Demand for the lithium ion batteries used in the production of Tesla automobiles is
perfectly elastic.
unrelated to their productivity.
an output demand.
derived from the demand for Tesla automobiles.
3.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Salaries of NFL quarterbacks, like Tom Brady, are
too high.
related to the additional revenues team owners expect to enjoy as a result of having them on the team roster.
the result of perfectly competitive markets.
All of the above are correct.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A decrease in the wage rate will change
only the amount of labor hired.
the amount of labor employed, and it may also change the amount of other inputs employed.
the price the firm charges for the product, but it will not affect the demand for any of the inputs.
the firm's profit-maximizing level output, but not its usage of inputs.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a large amount of output is produced per unit of the input, the input is said to exhibit
high productivity.
low productivity.
marginal productivity.
derived productivity.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The demand for ________ is a ʺderived demand.ʺ
ice cream cones on a hot day
tax-free municipal bonds
a hair stylist by a salon owner
a birthday cake for your brother
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The demand for inputs is a derived demand because
it does not come from competitive markets.
it depends on the demand for outputs.
it is derived from nature.
it is derived from production.
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