Refer to the above table. What does total product equal when 3 units of labor are used?
A. 1008
B. 338
C. 336
D. 3
Answer: A
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First-dollar health insurance reduces the:
A. marginal benefit of medical care to the insured. B. total cost of providing medical care. C. equilibrium amount of medical care received by the insured. D. marginal cost of medical care to the insured.
A voluntary export restraint occurs when one country prevents a specific product from being imported from another country
Indicate whether the statement is true or false
How does the text distinguish between coercion and persuasion?
A) Coercion uses force; persuasion uses reasoning. B) Coercion uses violence; persuasion is peaceful. C) Coercion cannot make everyone better off, but persuasion can. D) Coercion is evil, and persuasion is good. E) Coercion induces cooperation by threatening to reduce options, persuasion by promising to expand options.
The primary reason why the Fed cannot systematically surprise the public with its monetary policy is
A) the nonneutrality of money. B) the presence of productivity shocks that generate real business cycles independent of the monetary side of the economy. C) the presence of rational expectations among the public. D) the presence of propagation mechanisms within the economy.