Which of the following equations defines the multiplier?
A. 1 - (c ÷ YD).
B. 1 - b
C. 1 ÷ APS.
D. 1 ÷ (1 - MPC).
Answer: D
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Although all points on the production possibilities frontier are efficient, that alone does not determine which point is “best” for the society.
Answer the following statement true (T) or false (F)
The AA schedule shows
A) Interest rate and output pairs at which the foreign exchange market and the domestic money market are in equilibrium. B) Exchange rate and output pairs at which the foreign exchange market and the domestic money market are in equilibrium. C) Interest rate and output pairs at which only the foreign exchange market is in equilibrium. D) Exchange rate and output pairs at which only the foreign exchange market is in equilibrium. E) Exchange rate and output pairs at which only the domestic money market are in equilibrium.
In what ways did the stock market crash of 1929 increase the severity of the downturn?
What will be an ideal response?
Suppose a certain firm is able to produce 165 units of output per day when 15 workers are hired. The firm is able to produce 176 units of output per day when 16 workers are hired (holding other inputs fixed). Then the marginal product of the 16th worker is
a. 10 units of output. b. 11 units of output. c. 16 units of output. d. 176 units of output.