Richard Baldwin's estimate was that the euro increased the trade level of its users by
A) only 5 percent.
B) only 9 percent.
C) over 30 percent.
D) over 50 percent.
E) only 12 percent.
B
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Which of the following equations defines marginal revenue product?
A. MRP = P times Q. B. MRP = total cost. C. MRP = total revenue minus total cost. D. MRP = MPP times price of the product.
An increase in the demand for a product will shift the demand curve for labor producing the product to the right
a. True b. False Indicate whether the statement is true or false
When the firm produces zero output, its fixed cost is
a. zero b. the same as its total cost c. the same as its variable cost d. the same as its marginal cost e. infinite
Two alternative measures of the overall level of prices are
a. the inflation rate and the consumer price index. b. the inflation rate and the GDP deflator. c. the GDP deflator and the consumer price index. d. the cost of living index and nominal GDP.