Refer to the following table:
What is the marginal cost of the 1st unit of the activity?
A. 15
B. 10
C. 0
D. 5
E. none of the above
Answer: E
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The aggregate supply curve is a(n) ________ curve because it represents the relationship between price level and the quantity of real GDP supplied, two items that are ________ correlated
A) upward-sloping; positively B) vertical; not C) upward-sloping; negatively D) downward-sloping; negatively E) downward-sloping; positively
"A country's expenditure multiplier is constant over time." Explain whether the previous statement is correct or incorrect
What will be an ideal response?
The aggregate demand curve shows:
a. how the equilibrium level of aggregate expenditure changes in response to changes in production. b. the amount people spend at different real GDP levels. c. the positive relationship between the price level and real GDP. d. the negative relationship between aggregate expenditure and real GDP. e. how the equilibrium level of aggregate expenditure changes as the price level changes.
Which of the following statements is false?
A. Bonuses are paid in addition to base salary. B. Bonuses are frequently linked to performance. C. Free-riding can result from a compensation scheme that gives competitive individual bonuses. D. Free-riding can result from profit sharing. E. Profit sharing redistributes profits back to the workers.