If marginal product is zero, we know that
A. total output is maximized.
B. average product is also zero.
C. average product is constant.
D. total product is also zero.
Answer: A
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Refer to Table 18-6. Calculate the income tax paid by Sasha, a single taxpayer with an income of $60,000
A) $22,800 B) $14,400 C) $13,800 D) $13,642
The majority of people living in colonial America in 1790 were of African origins
Indicate whether the statement is true or false
For goods on which a relatively small portion of income is expended, _____
a. income effects will be small relative to substitution effects b. income effects will be large relative to substitution effects c. income effects will be about the same as substitution effects d. there will be no income effects.
The mercantilism policy failed to generate gains from trade for countries which adopted it because of: a. increases in consumer spending
b. high levels of federal debt. c. supply-side shocks from the oil-exporting countries. d. runaway inflation in the U.S. e. retaliations from other countries.