The average product is the greatest in the short run when the
A) total product is maximized.
B) marginal product is equal to zero.
C) marginal product is maximized.
D) marginal product is equal to the average product.
E) marginal product is greater than the average product.
D
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If Rory McIlroy only earned $500 per hour playing golf instead of $1,000 per hour, what should he do?
A) He should be indifferent as to who does the weed-whacking, for the difference in hourly earnings would now be insignificant. B) He should hire a less-productive gardener. C) He should do the weed-whacking himself. D) He should still hire the gardener.
In which of the following groups are ALL of the elements associated with a fixed-rate exchange system?
a. speculative rampages; major currency revaluations; currency shortages b. inflationary pressures; currency shortages; wage controls c. speculative rampages; domestic price controls; futures market d. inflationary pressures; dirty float system; daily currency price changes
A share representing a portion of ownership in a corporation:
a. liability b. dividend c. note of Stockholm d. stock e. bond
Developing economies are generally characterized by a dual economy, which means that they have:
A. an international sector and a domestic sector. B. a public sector and a private sector. C. a market sector and a traditional sector. D. a manufacturing sector and an agricultural sector.