If marginal product is greater than average product, then
A. marginal product must be decreasing.
B. marginal product must be increasing.
C. average product must be decreasing.
D. marginal product could either be increasing or decreasing.
Answer: D
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In a small country, the adult population is 10,000. In that country, 7,000 people are in the labor force and 6,300 people are employed. The unemployment rate equals
A) 0.63 percent. B) 7 percent. C) 10 percent. D) an undetermined amount given the lack of information.
Refer to Table 9-5. Consider the following values of the consumer price index for 2015 and 2016. The inflation rate for 2016 was equal to
A) 215 percent. B) 21.5 percent. C) 8.0 percent. D) 3.9 percent.
When money demand decreases, the Fed can choose between:
a. increasing interest rates or increasing the supply of money. b. increasing interest rates or decreasing the supply of money. c. decreasing interest rates or increasing the supply of money. d. decreasing interest rates or decreasing the supply of money.
Which of the following would not shift the demand for pounds curve to the right?
a. An increase in real U.S. GDP. b. A decrease in U.S. interest rates. c. A decrease in real U.S. GDP. d. An increased taste for British goods by Americans. e. None of the above.