The additional production resulting from hiring one more worker is
A) marginal physical product.
B) marginal cost.
C) marginal production.
D) additional production.
Answer: A
Economics
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In the above figure, at the point where AD equals SAS
A) real GDP exceeds potential GDP. B) potential GDP exceeds real GDP. C) the economy is in a recession. D) the unemployment rate is zero.
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Producing goods can add to net wealth, but rendering services cannot. Explain.
What will be an ideal response?
Economics
An increase in growth rates will cause the production possibilities curve to
A) shift inward. B) become steeper. C) become flatter. D) shift outward.
Economics
Inflation is a very minor problem for lenders because it is relatively easy to estimate future rates of inflation
a. True b. False Indicate whether the statement is true or false
Economics