The stimulus package implemented by the Bush Administration in 2008 included
A. rebates to individual taxpayers of $900 per individual and $600 per married couple.
B. rebates to individual taxpayers of $600 per individual and $900 per married couple.
C. no rebates of any kind to individual taxpayers, only corporations.
D. rebates to individual taxpayers of $600 per individual and $1200 per married couple.
Answer: D
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Suppose that the production function is Y = AK0.35L0.65, the number of workers equals 800, the capital stock is $150,000, and real GDP is $750,000. What is the value of total factor productivity?
What will be an ideal response?
The portion of consumer surplus that no one in society is able to obtain in a situation of monopoly is known as
A) a market failure. B) a deadweight loss. C) an unrealized loss. D) a market externality.
Labor productivity measures
a. input per machine per hour b. input per laborer per hour c. output per machine per hour d. output per laborer per hour e. output per unit of land per hour
Average total cost tells us the
a. total cost of the first unit of output, if total cost is divided evenly over all the units produced. b. cost of a typical unit of output, if total cost is divided evenly over all the units produced. c. cost of the last unit of output, if total cost does not include a fixed cost component. d. variable cost of a firm that is producing at least one unit of output.