In the above table, the average product of the 6th worker is
A. 4.
B. 0.
C. 3.
D. 5.
Answer: C
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Answer the following statement(s) true (T) or false (F)
1. Within the process of risk assessment, the description of expected risk, how that risk was assessed, and those areas needing policy decisions is collectively known as exposure assessment. 2. The objective of risk management is to both identify risk and to respond to it. 3. The only level of “acceptable” risk to society is a risk level of zero. 4. De minimis risk identifies the point at which risk is set to zero. 5. According to the textbook application, exposure to radon gas is an example of a voluntary risk.
In an eight-hour day, Andy can produce either 24 loaves of bread or 8 pounds of butter. In an eight-hour day, Bob can produce either 8 loaves of bread or 8 pounds of butter. Andy has a comparative advantage in the production of
A) bread, while Bob has a comparative advantage in the production of butter. B) butter, while Bob has a comparative advantage in the production of bread. C) bread and neither has a comparative advantage in the production of butter. D) both bread and butter.
Which of the following is an example of a trade restriction?
A) Consumers prefer German beer to domestic beer. B) Japan places a tax on all Korean automobiles. C) Domestic wine is more expensive than wine imported from Chile. D) The United States, Canada, and Mexico sign the NAFTA agreement.
Which of the following statements are NOT true about Eurocurrency markets?
A) Covered interest arbitrage in Eurocurrency markets is typically very profitable. B) Eurocurrency interest rate differentials are often in equilibrium with forward premiums or discounts. C) The Eurocurrency markets and forward markets fulfill similar roles for banks and firms today. D) All of these statements about Eurocurrency markets are true.