Sam, who owns a carpentry shop, discovered that with 4 laborers he could produce 18 cabinets per day. With 5 laborers he produced 25 cabinets and with 6 laborers he produced 36 cabinets. What was the MPP of the 6th laborer?
A. 11 cabinets
B. 9 cabinets
C. 7 cabinets
D. 36 cabinets
Answer: A
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The main difference between regular open-market operations and quantitative easing (QE) is:
A. that open-market operations is conducted by the Fed, while quantitative easing is mandated by congress. B. whether the Fed is trying to increase or decrease interest rates C. the type and term of the financial assets targeted. D. whether the Fed is buying or selling financial assets
Lee, J Brand, Joe's Jeans, Paper Denim & Cloth, Levi's, Wrangler, and many others are all producers of jeans. In what type of market does Lee operate?
A) monopolistic competition B) monopoly C) oligopoly D) perfect competition
In their 1994 book, The Bell Curve, Murray and Herrnstein presented evidence that IQ is an important determinant of economic success
a. True b. False Indicate whether the statement is true or false
Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. recessionary; lower; lower C. expansionary; higher; potential D. recessionary; higher; potential