The marginal product of labor is the change in
a. total output from employing one more worker
b. total cost from employing one more worker
c. average product from employing one more worker
d. total output divided by the change in cost from employing one more worker
e. total revenue from employing one more worker
Answer: a. total output from employing one more worker
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In the figure above, if the market is unregulated, at the equilibrium output the marginal external cost is
A) zero. B) $250 per unit. C) $150 per unit. D) $100 per unit.
With a fixed exchange rate, an increase in the domestic price level will, for a constant foreign price level,
a. increase exports and decrease imports. b. make foreign goods relatively more expensive to U.S. citizens but U.S. exports will be relatively cheaper to foreigner buyers. c. increase both exports and imports. d. make foreign goods relatively cheaper to U.S. citizens but U.S. exports will be more expensive to foreign purchasers.
K - 12 public education in the U.S. is paid for mainly by the _____ tax.
A. income B. sales C. excise D. property
Over the last decade, foreigners have been exercising
A. a declining influence over interest rates in the United States. B. an increasing influence over interest rates in the United States. C. about the same influence over interest rates in the United States.