Refer to Table 10.1. The marginal product of the third unit of labor is:
A. 30.
B. 50.
C. 60.
D. 160.
Answer: C
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When the rate of cyclical unemployment is zero, the:
a. natural rate of unemployment must also be zero. b. rate of frictional unemployment must be negative. c. economy must have entered a recessionary stage. d. Keynesian aggregate supply curve must be horizontal. e. economy is considered to be at full employment.
Suppose that a firm uses both labor (L) and capital (K) as inputs. The firm's long-run production function is Q = F(L,K) = 8?L?K. The firm has _____ units of capital. If the firm uses an efficient production method and hires _____ workers, it can produce _____ units of output.
A. 100; 100; 1,200 B. 100; 225; 800 C. 225; 100; 1,200 D. 225; 225; 1,000
A sign that Country A is under pressure to appreciate its currency is its:
a. Overall balance is in surplus. b. Financial account is in surplus. c. Overall balance is in deficit. d. Reserves account is in surplus (i.e., positive). e. All of the above.
Japan's remarkable economic growth in the 20th century was a result of _____.
Fill in the blank(s) with the appropriate word(s).