In the figure above, Sam originally selects his consumption bundle at point A with 3 pounds of olives and 4 pounds of pickles a year
Then the price of pickles rises and the price of olives falls so that his budget line rotates but it still goes through point A. Sam's consumption of olives A) definitely will rise.
B) definitely will fall.
C) definitely will stay the same.
D) could rise, fall, or stay the same.
A
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Based on the information in Scenario 1, nominal GDP in 2015 in this economy was
A) $830. B) $1,025. C) $1,090. D) $1,345.
Refer to Table 22-4. In the table above, which countries are consistent with the predictions of the economic growth model?
A) Japan and Guatemala B) only Japan C) Botswana and Thailand D) all four countries
Refer to the demand and supply equations. At a price of $35, there will be ________
Fill in the blank(s) with correct word
Suppose the production function is given by Q = 2K + 5L. What is the marginal product of labor when 15 units of capital and 10 units of labor are employed?
A. 2 B. 50 C. 5 D. 25