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Matching Post Quiz
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Match the correct answers below.
1


Payments from government to citizens that are not made in exchange for current goods or services.

2


Refers to the firm's demand of inputs.

3


The additional revenue produced by an additional unit of labor.

4


The flow of wages, interest payments, and dividends.

5


Firms add inputs up to the point where the marginal revenue product of the input equals the marginal cost or price of the input.

6


The supply curve of surgeons.

7


Found where demand intersects supply.

8


The sum of all the incomes of all individuals in a country.

9


States that the income of an input is derived from the marginal revenues produced on the last unit hired.

10


States that if the price of one factor rises while other factor prices remain fixed, the firm will profit from substituting more of the other inputs for the more expensive factor.

11


The net value of assets owned at a given point in time.

Answer choices for questions 1 through 11
A)Derived demand
B)Substitution rule
C)Wealth
D)National income
E)Transfer payments
F)Income
G)Marginal revenue product of labor
H)Maximizes profits
I)Equilibrium price
J)Distribution theory
K)Relatively inelastic





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