Naturally occurring diamonds are an example of
A) land.
B) labor.
C) physical capital.
D) human capital.
A
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Suppose the price elasticity of demand for a product is 1.3 . If a supplier wants to increase revenue, what change should it make to price, if any?
Labor (# of employees)Total Output0011025031104160520062307255827592901030011305Assume the table shown is for a hat factory, and shows the total production of hats given various numbers of employees. What is the marginal product of the ninth worker?
A. 15 B. 5 C. 290 D. 10
Refer to the following graph.
A government-imposed price floor of $2 will result in:
A. neither excess supply nor excess demand since it is not binding. B. neither excess supply nor excess demand since it is binding. C. an excess demand of 2. D. an excess supply of 2.
Capital inflows that take the form of direct investment may be particularly beneficial if they bring new technologies, new management techniques, and new ideas to the host country
Indicate whether the statement is true or false