Which of the following was one the key factors sending the economy into the Great Recession?
a. declining home prices and rising foreclosure rates
b. declining interest rates and declining lending
c. declining labor participation rates and rising retirement rate
d. none of the above were reasons for the Great Recession
a
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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
Commercial policy is government policy that influences:
a. the operation of commercial banks. b. domestic trade flows. c. domestic private corporations. d. international trade flows. e. the operation of capital markets.
For a natural monopoly, long-run average costs
A) fall as output increases. B) rise as output increases. C) fall as output falls. D) rise as output falls.
Marginal product is
A) the change in total output from using an additional unit of one variable input, holding other inputs constant. B) the change in total output from using an additional unit of all variable inputs. C) the total output divided by the number of units of the variable input. D) the change in total output divided by the number of units of the variable input, holding constant all other inputs.