Refer to the above table. When the quantity of labor equals 2, what does the average product equal?
A. 26
B. 46
C. 23
D. 92
Answer: C
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Funds are channeled from savers to borrowers indirectly through ________ and directly through ________
A) financial intermediaries; financial markets B) financial markets; financial intermediaries C) main banks; branches D) broker; agents
Autonomous easing of monetary policy involves ________
A) raising interest rates and shifting the MP curve to the right B) lowering interest rates and shifting the MP curve to the left C) raising interest rates and shifting the MP curve to the left D) lowering interest rates and shifting the MP curve to the right E) none of the above
In the above figure, the equilibrium level of planned saving plus net taxes is
A) $1.0 trillion. B) $2.0 trillion. C) $3.0 trillion. D) $4.0 trillion.
All else equal, technological change will be more rapid if
a. the government enhances patent protection b. interest rates are lower c. the government increases research funding d. all of the above e. interest rates are higher