Hannah's House of Hotcakes serves 30 customers in an hour when it hires one worker. It serves 60 customers in an hour when it hires two workers. The marginal product of the second worker is ________ customers served per hour.
A. 20
B. 30
C. 50
D. 67.5
Answer: B
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The Ricardian notion that of diminishing returns implies that
a. as more input is used more output will be made. b. as more input is used less output will be made. c. as more input is used the increase in output will increase. d. as more input is used the increase in output will decrease.
Which of the following is an example of human capital?
a. a student loan b. knowledge learned from reading books c. training videos for new corporate employees d. All of the above are correct.
When Chile experiences investment from abroad, it experiences, as a result,
a. an increase in productivity. b. a decrease in Gross National Product (GNP). c. lower wages for Chilean workers. d. None of the above is correct.
When we compare the graphs of GDP growth over time to the corresponding risk spread on Baa bonds compared to 10-year U.S. Treasury bonds, what relationship can be inferred?
What will be an ideal response?