Suppose y = Ak1/4, the capital-labor ratio is $40,000 per worker, the level of total factor productivity is 800, 70% of the population works, and there are 70 million workers. Real GDP per capita is
A) $3,500.00.
B) $5,543.72.
C) $7919.60.
D) $9,899.50.
C
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The United States typically experiences a large surplus of milk annually. This is caused by
a. a price ceiling in the market. b. not enough demand for milk. c. a price floor in the market. d. overproduction of milk by the cows.
Slight discrepancies in the rates of appreciation versus depreciation of two currencies are related to:
a. a mathematical quirk that percentage increases are always larger than percentage decreases because, in the first case, the denominator is smaller. b. the imprecise nature of the calculations. c. the lack of reliable information. d. the volatile nature of exchange rates.
Price at which the quantity supplied is equal to the quantity demanded aka market-clearing price
What will be an ideal response?
Refer to the data provided in Table 10.3 below to answer the following question(s).
Table 10.3 
Refer to Table 10.3. If workers are paid $600 per day, then the firm is profit maximizing when it hires ________ workers.
A. two B. three C. four D. five