Suppose that an economy produces 2400 units of output, employing the 60 units of input, and the price of the input is $30 per unit.
Refer to the information above. The level of productivity in this economy is:
A. 20
B. 30
C. 40
D. 50
C. 40
Economics
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List the factors that might influence a country's exports, imports, and trade balance
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Refer to Figure 22-4. Suppose the per-worker production function in the figure above represents the production function for the U.S. economy
If the United States decided to cut its support of university research in half, this would cause a movement from A) B to D. B) B to E. C) B to C. D) B to A.
Economics
Define market equilibrium. How is the equilibrium price determined?
Economics
Refer to Exhibit 6-2. The unemployment rate in year 1 is
a. 12 1/2 percent. b. 70 percent. c. 87 1/2 percent. d. 30 percent. e. 10 percent.
Economics