The additional output from one more worker is known as
A) marginal revenue product.
B) marginal physical product.
C) marginal factor cost.
D) marginal wage.
B
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The price of a computer in the United States is $1,000. The price of a car in Germany is 10,000 euros. The current exchange rate is 0.9 euros per dollar
a) If a computer is exported from the United States to Germany with no barriers to trade, what will be the price of the computer in Germany? b) If a car is imported to the United States from Germany with no barriers to trade, what will be the price of the car in the United States? c) Suppose the dollar appreciates by 10 percent against the euro. How will the price of a computer exported from the United States change in Germany? d) Suppose the dollar appreciates by 10 percent against the euro. How will the price of a car imported to the United States from Germany change in the United States?
Rationality implies that in order to get what they want, people will spend the most time and effort
a. making private market decisions b. getting politically involved c. investigating political candidates' platforms d. debating social issues e. writing to Congress
When an economy operates efficiently,
a. the MRPs of every input into the production of a good are equal. b. marginal utility equals marginal cost for every good. c. the price of a good equals the sum of the marginal physical products of its inputs. d. All of the above are correct.
William Jennings Bryan, Secretary of State at the time of the passage of the Federal Reserve Act, argued in favor of having ______ district banks
A) six B) not less than eight nor more than twelve C) twelve D) fifty