In a Mexican factory, each worker can produce 1/8 of a vase or 1/16 of a statue per hour. If there are 400 workers at the factory, the maximum number of vases that could be produced in one hour is
a. 400
b. 25
c. 50
d. 100
e. 80
C
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Which of the following transactions is NOT recorded in the capital and financial account?
A) foreign investment in the United States B) U.S. investment abroad C) statistical discrepancy D) net interest income
Many products consumed by Americans are imported. Imports account for the largest share of which of the following products consumed by Americans?
What will be an ideal response?
Marginal physical product of the first worker is 100, 120 for the second, 80 for the third, 30 for the fourth, 5 for the fifth, 3 for the sixth, 2 for the seventh, 1 for the eighth, and 0 for the ninth. What is total product for the fifth worker and the ninth worker respectively?
A. 335; 0 B. 335; 341 C. 0; 5 D. 5; 0
Which of the following describes monopolistic competition?
A) homogeneous products B) All firms are price takers. C) Advertising plays a key role. D) There is only one seller in the industry.