In the above table, the marginal physical product of the 6th worker is
A. 4.
B. 3.
C. 0.
D. 5.
Answer: C
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Suppose that the exchange rate between British pounds and U.S. dollars is originally $2.50 per pound. If it then changes to $3 for 1 pound, imports of British goods into the U.S. tend to: a. rise
b. fall. c. stay the same. d. change in an indeterminate direction.
Explain why the long-run average cost is typically U-shaped
Which statement is false?
A. Germany pays higher manufacturing wage rates than the U.S. does. B. The United States pays the highest manufacturing wage rates in the world. C. Both Britain and Norway pay higher manufacturing wage rates than the United States. D. None of the statements are false.
The current yield of a bond:
A. is another term for the yield to maturity. B. is the difference between its future value and its present value. C. equals zero for a zero-coupon bond since these bonds have no coupon payments. D. is another term for the coupon rate.