The marginal product of capital is always ________ and it ________ as the capital stock increases
A) positive; increases
B) positive; decreases
C) negative; increases
D) negative; decreases
B
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If Cassie's Coffee House purchases 42 cents worth of ingredients and spends 28 cents on wages per cup of coffee to produce an 89 cent cup of coffee, then Cassie's Coffee House's value added per cup of coffee is
A) 19 cents. B) 28 cents. C) 47 cents. D) 61 cents.
The U.S. welfare system was revised by a 1996 law that
a. consolidated all of the previous assistance programs into a single program. b. limited the amount of time that people could receive assistance. c. said it was no longer necessary for poor people to demonstrate an additional "need," such as small children or a disability, to qualify for assistance. d. turned all federally-run welfare programs over to the states.
The above figure shows the market for pizza. The market is in equilibrium when the cheese used to produce pizza falls in price. What point represents the most likely new price and quantity?
A) A
B) B
C) C
D) D
E) E
The World View article in the text titled "Income Share of the Rich" reports, "In poor, developing countries the richest tenth of the population typically gets 40 to 50 percent of all income." Which of the following is a form of government intervention designed to change this situation?
A. Spillover costs. B. Rich nations opening up their domestic markets to exports from poor nations. C. Antitrust laws. D. Laissez faire.