Refer to the information provided in Figure 7.4 below to answer the question(s) that follow. 
Figure 7.4Refer to Figure 7.4. The marginal product of the fourth worker is
A. 8.
B. 12.5.
C. 48.
D. 92.
Answer: A
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When the marginal benefit of an output exceeds the marginal cost
A. production of that output should be increased, in order to maximize economic surplus. B. increasing the production of that output would increase the missing surplus. C. reducing the production of that output would reduce the missing surplus. D. production of that output should be decreased, in order to maximize economic surplus.
A positive relationship between the rate of change in money prices and real GDP is
A) a leading relationship B) a lagging relationship. C) an example of countercyclicality. D) a Phillips curve.
If one of the agents in an Edgeworth Box has monopoly power and maximizes profit as the sole seller, then the economic outcome is:
A) inefficient because the monopoly has no incentive to be technically efficient. B) inefficient because the monopoly produces less than the optimal amount of output. C) Both A and B are correct. D) none of the above
Republicans in Congress pushed for the passage of the National Bank Act of 1863 because:
a. they wanted the executive branch to have more control over the amount of notes in circulation. b. they wanted to encourage a mild inflation in the U.S. c. they felt that the Act would reduce the temptation for weak administrations to over issue paper currency. d. they wanted to reduce the number of banks in the U.S.