If the growth rate of multifactor productivity is 2.5, and b = 0.25, k = 4, n = 2, and y = 5, then the growth rate of labor productivity is
A) 3.0.
B) 8.0.
C) 2.0.
D) 2.5.
A
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If Pepsi goes on sale and decreases its price by 10 percent, and as a result, the quantity demanded of Coca Cola decreases by 5 percent, then Pepsi and Coke are ________ goods
A) inferior B) normal C) substitute D) complementary E) unrelated
Average costs
a. fall at all levels of output b. are falling when marginal costs are below average costs and rising when marginal costs are above average costs c. are falling when marginal costs are above average costs and rising when marginal costs are below average costs d. does not vary with output
The U.S. demand curve for foreign currency is drawn holding constant all except one of the following factors. Which is the exception?
a. income in the United States b. the inflation rate in the United States c. incomes in the rest of the world d. the interest rate in the United States relative to the rest of the world e. tastes and preferences of Americans for foreign goods
As a rule, the more of a commodity a consumer acquires, the smaller will be her total utility from that good
a. True b. False Indicate whether the statement is true or false