Refer to the table shown. Marginal product declines when which worker is hired?Number of workersMarginal product of workers1225394145166177188189171015
A. The 6th worker
B. The 7th worker
C. The 9th worker
D. The 5th worker
Answer: D
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If the MPC is 0.6 and the tax rate is 20%, a $200 decrease in autonomous net exports will decrease equilibrium income by
A) $384. B) $416. C) $478. D) $1,666.
Explain how a change in the expected price level would shift the short-run and long-run aggregate-supply curves
In 2007, which of the following U.S. firms showed the first indication of significant problems in the financial sector?
A. AIG B. Bear Stearns C. J.P. Morgan Chase D. Lehman Brothers
Economies that adopt more open trade policies have often historically enjoyed faster economic growth rates as a result. This is an example of what kind of statement?
A. Marginal B. Positive C. Biased D. Normative