Marginal Revenue Product with three units of labor would be
A. $160.
B. $200.
C. $260.
D. $460.
B. $200.
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Use the following graph, which shows the supply and demand curves for dollars in the pound/dollar market, to answer the next question,
Assume that D1 and S1 are the initial demand for and supply of dollars. Suppose that Britain's demand for dollars increases from D1 to D2. If the British government wishes to fix the exchange rate at the initial level, it should ________.
A. buy and add more to its dollar reserves B. encourage the British to import more U.S. products C. sell pounds in exchange for U.S. dollars D. sell some of its dollar reserves
What does the income elasticity of demand measure? How is it calculated?
What will be an ideal response?
Imputed rental income is considered taxable income to the homeowner under current tax law
a. True b. False
One result of asymmetric information in the market for used cars is that
a. few used cars are offered on the market b. few lemons are sold c. more lemons may be offered for sale than good cars d. buyers benefit at the expense of sellers e. good cars will sell for more than they are worth