Wayne's Jacket Shop sells Wayne's jackets for $20 each. Wayne finds that his total revenues change according to the number of workers he hires, as shown in the table below.WorkersTotal Revenue1$1,00021,40032,00041,6005800What is the marginal revenue product of the fifth worker?
A. $400
B. -$800
C. $160
D. $2
Answer: B
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The bowed outward shape of the production possibilities frontier in the above figure indicates that
A) some resources are better suited for producing computers. B) the opportunity cost of producing more computers decreases as more computers are produced. C) computer technology is subject to the principle of decreasing costs. D) All of the above answers are correct.
Which of the following factors would increase capital mobility?
a. fixed exchange rates. b. differences in tax laws between countries. c. different accounting standards between countries. d. both a and b. e. All of the above.
The Fed holds its euro reserves primarily in the form of:
A. a weighted portfolio of European government bonds. B. German government bonds. C. international mutual funds. D. euro currency.
Which of the following trade rounds was started in 2001 but has never been settled even in 2012 and whose goals were aimed at lowering tariffs on a wide range of industrial and agricultural products?
a. Uruguay b. Switzerland c. Doha d. All rounds have been completed.