According to the principle of diminishing returns, if the number of workers is increased beyond the point of diminishing returns, then the additional worker
A) increases total output by more than the amount of previous workers.
B) increases total output by the same amount as previous workers.
C) decreases total output.
D) increases total output by less than the amount of previous workers.
D
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Refer to Figure 3-4. At a price of $20, how many units will be sold?
A) 400 B) 500 C) 600 D) 800
Other things the same, when the price level falls, interest rates
a. rise, which means consumers will want to spend more on homebuilding. b. rise, which means consumers will want to spend less on homebuilding. c. fall, which means consumers will want to spend more on homebuilding. d. fall, which means consumers will want to spend less on homebuilding.
Figure 10-18
Given the shift of the aggregate demand curve from AD1 to AD2 in , the real GDP and price level (CPI) in long-run equilibrium will be
a.
$10 billion and 200.
b.
$4 billion and 150.
c.
$10 billion and 150.
d.
$10 billion and 100.
Among the following, which would not be considered part of the investment component of GDP?
A. Manufacturers’ equipment B. Buying corporate stock C. New houses D. Business structures