Refer to Scenario 14.2. What is the average product of the 4th worker?
A) 4
B) 5
C) 6
D) 6.5
E) 7
D
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Your real wealth is measured as the
A) amount of assets you have in dollar terms. B) amount of money you have. C) amount of goods and services your wealth will buy. D) amount of goods you have divided by the price level.
When negative network externalities are present
A) the demand curve is more elastic than otherwise. B) the demand curve is less elastic than otherwise. C) the demand curve shifts to the right. D) the demand curve shifts to the left.
Zipco's economic profit is equal to its
a. total revenue minus accounting profit b. total revenue minus explicit costs c. total revenue plus accounting profit d. total revenue plus opportunity costs e. accounting profit minus implicit costs
Which shifts the aggregate demand to the right?
A. Increase in government purchases B. Reduction in consumer spending. C. The selling of government securities by Fed Reserve Bank D. Downsizing of corporate investment spending