Number of workersUnits of output0012525539541255150
Refer to Table 5.2, which gives a firm's production function. Assume that all non-labor inputs are fixed. The marginal product of the fourth worker is:
A. 0 units.
B. 10 units.
C. 25 units.
D. 30 units.
Answer: D
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The table below shows data for Indonesia
2009 2010 Real GDP growth rate 4.5 6.0 Inflation rate 4.8 5.7 Assuming the rate of velocity change is constant, the money growth rate in Indonesia was A) 0.3 percent in 2009. B) 11.7 percent in 2010. C) -0.3 percent in 2009. D) 5.7 percent in 2010.
With productive efficiency:
a. There is production of that particular mix of goods and services most wanted by society b. The available supplies of factors of production are variable in quantity and quality c. There is production of any particular mix of goods and services in the least costly way d. The state of technology, or methods used to produce output, constantly change
Exhibit 9-8 Keynesian aggregate expenditures model
?
In Exhibit 9-8, an increase in aggregate expenditures of 100 causes real GDP to rise by:
A. $100. B. $200. C. $300. D. $400.
Whenever a former governor is elected president, the unemployment rate decreases; whenever a former congressman is elected president, the inflation rate increases. This statement is an example of
A. fallacy of logic. B. post hoc, ergo propter hoc fallacy. C. fallacy of inductive reasoning. D. ceteris paribus fallacy.