If two workers can produce 22 units of output, and the addition of a third worker increases output to 30 units, the marginal product of the third worker is:
A. 8 units.
B. 10 units.
C. 22 units.
D. 30 units.
Answer: A
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Refer to the figure above. The region BAH represents the ________
A) consumer surplus after taxation B) tax incidence on consumers C) tax incidence on producers D) deadweight loss due to taxation
Which of the following pairs of policies shift aggregate demand in the same direction? a. A tax increase and an increase in the money supply
b. A transfer payment decrease and an increase in the money supply. c. A reduction in government purchases and decline in the money supply. d. An increase in government purchases and a decline in the money supply.
If the Fed wants to reverse the effects of a favorable supply shock on unemployment, it should
a. increase the money supply growth rate which raises the inflation rate. b. increase the money supply growth rate which reduces the inflation rate. c. decrease the money supply growth rate which raises the inflation rate. d. decrease the money supply growth rate which reduces the inflation rate.
According to the text, identical technologies are a more reasonable assumption for:
A. the shoe industry. B. the call center industry. C. neither the shoe nor call center industry. D. both the shoe and call center industries.