If a number greater than the mean (average) of a series of observations is added to the series, the new mean is:
A) greater than the original mean.
B) smaller than the original mean.
C) same as the original mean.
D) either greater or smaller than the original mean depending on the number of observations in the series.
A
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As a result of money in an economy,
A) transaction costs are higher than would be the case in a barter economy. B) people are greedier than in a barter economy. C) real Gross Domestic Product (GDP) and economic growth are greater than they would be in a barter economy. D) stealing exists and people have to find ways to prevent theft.
Government mandating that every driver have a minimum amount of car insurance addresses the problem of:
A. moral hazard. B. illegal screening. C. adverse selection. D. statistical discrimination.
One of the largest challenges with foreign aid today is:
A. finding ways to ensure it is going to the best uses possible. B. raising enough of it to have any significant impact on the market. C. countries' overreliance on it removing incentives to better themselves. D. severely diminishes some nations’ ability to help their own citizens.
Suppose that an accounting firm with 10 employees hires another accountant. By doing so, it goes from serving 30 customers each week to serving 32 customers each week. What is the marginal product of labor for the new accountant?
A. 2 B. 10 C. 32 D. 62