Refer to the given data. The marginal revenue product of the second worker is:
A. $16.
B. $32.
C. $8.
D. $4.
A. $16.
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Which of the following would increase labor productivity?
a. A decrease in the amount of capital per unit of labor b. A change in technology that improves the quality of capital c. A decrease in the unemployment rate d. An increase in the number of inexperienced workers entering the labor force e. A decrease in the quality of capital
If the domestic income of a nation’s citizens increase thus causing consumption spending to increase, then we generally expect net export spending to:
A. increase as well because as consumption increases we also buy more foreign goods and services. B. decrease as well because as consumption increases we also buy more foreign goods and services. C. remain constant because when we increase domestic purchases it is directly offset by a reduction in foreign purchases. D. there is not enough information to determine what would happen.
The Keynesian aggregate expenditures model assumes that price level is constant
a. True b. False Indicate whether the statement is true or false
If, in retaliation for "unfair" trade practices, Congress imposes a 30 percent tariff on Japanese DVD recorders, but at the same time, U.S. demand for Japanese goods increases, then, in the long run, ________, everything else held constant
A) the Japanese yen should appreciate relative to the U.S. dollar B) the Japanese yen should depreciate relative to the U.S. dollar C) there is no effect on the Japanese yen relative to the U.S. dollar D) the Japanese yen could appreciate, depreciate or remain constant relative to the U.S. dollar