Natural resources:
A. are production inputs that come from the earth.
B. include lakes, mineral deposits, forests, and so on.
C. can be split into two categories: renewable or nonrenewable.
D. All of these are true statements.
D. All of these are true statements.
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National wealth includes
a. machinery and equipment. b. buildings. c. land. d. All of these.
The process of moving from disequilibrium to equilibrium in labor markets creates special problems because
a. we are all workers threatened by recession b. we cannot spend money we have not earned c. the process is very short d. the process is especially lengthy e. negative shocks create economic expansions
Externalities are benefits or damages conferred upon people who are directly involved in an exchange of a good or service.
Answer the following statement true (T) or false (F)
A firm pays Pam $40 per hour to assemble personal computers. Each day, Pam can assemble 4 computers if she works 1 hour, 7 computers if she works 2 hours, 9 computers if she works 3 hours, and 10 computers if she works 4 hours. Pam cannot work more than 4 hours day. Each computer consists of a motherboard, a hard drive, a case, a monitor, a keyboard, and a mouse. The total cost of these parts is $600 per computer. What is the marginal cost of producing the computers that Pam can assemble during her 2nd hour of work?
A. $4,200 B. $4,280 C. $1,800 D. $1,840