Capital per person k is higher in Japan than in the United States. As a result ________
A) per capita income is higher in Japan
B) total factor productivity is higher in Japan
C) the marginal product of capital is higher in Japan
D) all of the above
E) none of the above
E
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"Similar to imports, U.S. exports depend on the level of U.S. real GDP so that if real GDP increases, U.S. exports increase." Explain whether the previous sentence is correct or incorrect
What will be an ideal response?
McDonald's partnership with Beijing's Department of Agriculture provided:
A) McDonald's with subsidies , suppliers, and distributional channels. B) McDonald's with just subsidies. C) McDonald's with just distributional channels. D) all of the above.
In the text, the key question in the "economics of a business" is
A) whether the need to grow revenues is being met. B) should the firm be in the business in which it is operating. C) whether the firm faces rising labor costs. D) can the firm affect its market share.
Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $8. What will be the value of total revenue when quantity sold equals 3?
A) $24 B) $27 C) $3 D) $9