The marginal product of capital (MPK) is given by the ________
A) capital share of income + average output per unit of capital
B) capital share of income - average output per unit of capital
C) capital share of income ÷ average output per unit of capital
D) capital share of income × average output per unit of capital
E) none of the above
D
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Spending on newly constructed homes is part of the investment component of GDP.
Answer the following statement true (T) or false (F)
If Gladys sells her 1998 Jeep Cherokee for $3,500 in 2016, the sale of her car contributes $3,500 to 2016 GDP
Indicate whether the statement is true or false
Points along a budget line represent the maximum combinations of two commodities that a consumer can afford
a. True b. False Indicate whether the statement is true or false
Under a system of flexible exchange rates, an increase in demand for a nation's currency in the foreign exchange market will
a. cause the nation's currency to appreciate. b. make it more expensive for the nation to import goods. c. cause the nation's balance on current account to shift toward a surplus. d. make it less expensive for foreigners to buy the nation's goods.