The total product curve shows the relationship between total product and
A) cost.
B) the quantity of labor.
C) the average product.
D) the marginal product.
E) the marginal cost.
B
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The opportunity cost of owning and using a firm's capital is defined as the capital's
A) variable cost. B) fixed cost. C) economic depreciation. D) nonpayment depreciation. E) explicit cost.
Marking to market refers to
A) the determination of the prices of options contracts by the interaction of demand and supply. B) the determination of the prices of futures contracts by the interaction of demand and supply. C) the settlement of gains and losses on futures contracts each day. D) the settlement of gains and losses on forward contracts each day.
Inflation is a general and ongoing:
a. rise in the level of prices in an entire economy over time. b. lowering in the level of prices in an entire economy over time. c. rise in relative prices in an entire economy over time. d. lowering in relative prices in an entire economy over time.
Assume that the central bank lowers the discount to increase the nation's monetary base. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the GDP Price Index and monetary base in the context of the Three-Sector-Model? State your answer after the macroeconomic system returns to complete equilibrium
a. The GDP Price Index rises and monetary base rises. b. The GDP Price Index rises and monetary base falls. c. The GDP Price Index and monetary base fall. d. The GDP Price Index and monetary base remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.