Which of the following are components of economic growth
a. growth in labor force.
b. technological progress.
c. investment.
d. all of the above.
D
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Using the data in the above table, if the firm employs 3 workers, total product (measured in units per day) and average product and marginal product of the third worker (measured in units per worker) are
A) 19, 6 1/3, and 9 respectively. B) 3, 19, and 6 1/3 respectively. C) 19, 3, and 9 respectively. D) 19, 6 1/3, and 7 respectively.
The seller of a call option has the
A) right to buy shares at a specified price. B) obligation to buy shares at a specified price if the option is exercised. C) right to sell shares at a specified price. D) obligation to sell shares at a specified price if the option is exercised.
The opportunity cost to a city for using local tax revenues to construct a new park is the:
a. best alternative foregone by building the park. b. dollar cost of constructing the new park. c. dollar cost of the old park. d. increased taxes necessary to pay for maintenance of the new park.
Which of the following is not held constant in a supply schedule?
a. production technology b. the price of the good c. the prices of inputs d. expectations