The marginal physical product of capital is the
a. addition to total physical product generated by an additional unit of capital
b. average contribution of capital to total output
c. use of capital in production
d. contribution of equipment capital to loanable funds
e. profit made by an entrepreneur since the entrepreneur is the capitalist
A
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When pricing is used to limit entry, it is often described as
A) effective. B) predatory. C) exclusive. D) aggressive.
What is known as the Dutch disease?
a. The problem that arises when a government cannot meet its foreign debts b. The phenomenon of a boom in one industry causing declines in the rest of the economy c. A sudden and unexpected devaluation of a currency as a consequence of policy controls d. The problem that arises when high imports force an economy to borrow from external sources e. A deficit in the balance of payments of the economy that arises due to a sudden appreciation of the domestic currency.
Refer to the graphs shown. An increase in quantity demanded is best shown by which arrow?
A. A B. B C. C D. D
Which is included in GDP?
A. Bread for a restaurant. B. Used autos purchased by consumers. C. Social Security payments. D. Telephone service for a home.