The demand for ________ is a ?derived demand.?
A. a dog groomer by a grooming shop
B. U.S. Treasury bonds
C. hot chocolate on a cold day
D. hot dogs on the 4th of July
Answer: A
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If a country's human capital improves, ________
A) the country will have more inequality for a given level of capital stock B) the country will have a lower GDP for a given level of capital stock C) the country will have more poverty for a given level of capital stock D) the country will have a greater GDP for a given level of capital stock Consider two economies: A and B. Both the countries have access to the same aggregate production function and have the same population and same efficiency units of labor, but have different technologies. Technology in economy B is more advanced than the technology in economy A.
The above figure shows the costs at Barney's Bagel Bakery. For which of the following levels of output does the marginal product of labor exceed the average product of labor?
A) at 1000 bagels daily B) at 2000 bagels daily C) at 3000 bagels daily D) all of the above
What are resources? Describe two different types of resources
What will be an ideal response?
An increase in the capital stock would be expected to
a. decrease the labor force. b. increase the level of output. c. decrease real GDP per capita. d. increase real GDP per capita.