In the above table, what is marginal product of labor for the 2nd worker?
A) 20
B) 8
C) 10
D) 12
D
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In a system of flexible exchange rates, expansionary monetary policy abroad would induce
a. a rise in the U.S. exchange rate. b. a fall in the U.S. rate of exchange. c. a balance of payments surplus for the United States. d. no change in U.S. exchange rates.
Those who generally have low willingness to take on risk are said to be:
A. risk-seekers. B. risk-averse. C. high-compensation players. D. low-risk players.
Refer to the table above. Once trade begins, a possible international price (i.e. terms of trade) for textiles in terms of grapes is
A) $5. B) 2/5. C) 2. D) 4/5.
If Happy Cleaners and Sparkle Cleaners are in a Cournot oligopoly and Happy Cleaners has a higher cost of production than Sparkle Cleaners, in equilibrium, Happy Cleaners will produce ________ than Sparkle Cleaners and earn an economic profit that is ________ Sparkle Cleaners.
A) more; less than B) less; less than C) less; the same as D) more; the same as