Explain what is meant by marginal product
What will be an ideal response?
Marginal product is the additional output that can be produced by adding one more unit of a specific input (all else equal).
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For which of the following goods is the value of income elasticity most likely to be negative?
a. macaroni and cheese b. champagne c. airline tickets d. clothes e. toothpaste
Basic research seeks to answer specific questions or to apply scientific discoveries to the development of specific products
a. True b. False Indicate whether the statement is true or false
The Troubled Asset Relief Program (TARP) totaled ____ and the fiscal stimulus package of 2009 totaled ____
a. $1.4 trillion; $800 billion b. $1.4 trillion; $700 billion c. $700 billion; $800 billion d. $700 billion; $1.4 trillion
Which type of funding is very controversial, and is widely criticized for serving the geopolitical needs of donors instead of assisting poor nations?
a. concessionary loans b. microloans c. multilateral aid d. bilateral foreign aid