Refer to the above table. What does the marginal product equal when the quantity of labor goes from 3 to 4?
A. 72
B. 9
C. 216
D. 18
Answer: B
You might also like to view...
For each short-run average total cost curve, the ________ the plant, the ________ is the output at which average total cost is at a ________
A) larger; greater; maximum B) larger; greater; minimum C) larger; smaller; minimum D) smaller; smaller; minimum
Which of the following is false?
a. The Fed controls the supply of money, even though privately owned commercial banks actually create and destroy money by making loans. b. With a 10% required reserve ratio, a $10,000 cash deposit in a bank would result in an increase in the bank's excess reserves by $1000. c. With a 10% required reserve ratio, a $1,000 bond purchase by the Fed directly creates $1,000 in money in the form of bank deposits, and indirectly permits up to $9,000 in additional money to be created through the multiple expansion in bank deposits. d. When the Fed sells government bonds, it will tend to cause a multiple contraction of bank deposits.
A negative income tax system was designed to
a. provide in-kind benefits to the poor b. provide minimal income to the poor c. reduce taxes on the rich when their incomes surpass the maximum income tax bracket d. create income payments to the poor specifically for medical assistance e. allow people to challenge the tax rate they are currently paying
According to most economists, the development of markets is:
A. both a necessary and a sufficient condition for development. B. a sufficient condition for development but not a necessary condition. C. a necessary condition for development but not a sufficient condition. D. neither a necessary nor a sufficient condition for development.