Teenagers generally have high marginal revenue products because they have not completed their educations and have little job experience
a. True
b. False
Indicate whether the statement is true or false
False
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When interest rates rise,
A) borrowing costs decline, and total planned real expenditures decline. B) borrowing costs increase and total planned real expenditures increase. C) borrowing costs decline, and total planned real expenditures increase. D) borrowing costs increase, and total planned real expenditures decline.
Karen O'Brien has the demand schedule for grapefruit shown in the table below.
A) Her total utility for four grapefruit would be _____.
B) Her marginal utility from the fifth grapefruit would be _____.
C) If the price were 40 cents, her consumer surplus would be _____.
If the CPI increases by 3 percent over a year and average nominal income increases by 5 percent, real income has increased by how much
If capital and labor each grow 5% in a year, the elasticities of output with respect to capital and labor sum to one, and productivity grows 2% in the year, by how much does output grow during the year?
A. 2% B. 3% C. 7% D. 5%