A government policy of providing free public K-12 education is most consistent with
A) Pareto-efficiency.
B) the First Theorem of Welfare Economics.
C) the Second Theorem of Welfare Economics.
D) the contract curve.
C
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Suppose a manager of a company is told by his staff that marginal productivity has risen above the average productivity over the last six months of operation
What can this manager conclude is happening to the overall average productivity of the company? Explain.
Refer to Table 15-1. What is the marginal revenue from the sale of the 12th unit?
A) $75 B) $50 C) $20 D) -$5
The multiple by which the commercial banking system can expand the supply of money is equal to the reciprocal of:
A. its excess reserves. B. the interest rate. C. its actual reserves. D. the reserve ratio.
More complementary resources would ____________ the productivity and the marginal revenue product of labor.
A. tend to raise B. tend to lower C. not effect