Suppose that one worker can produce 15 cookies, two workers can produce 35 cookies together, and three workers can produce 60 cookies together. What is the average product of the first three workers?
A) 25 cookies
B) 30 cookies
C) 17.5 cookies
D) 20 cookies
Answer: D
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An increase in the real interest rate will decrease consumption and investment
Indicate whether the statement is true or false
Which of the following addresses agency costs?
a. spot checks of the quality of employee work b. hiring only from job fairs c. instituting longer work days d. reducing the number of holidays
If the government imposes a $3 tax in a market, the buyers and sellers will share an equal burden of the tax
a. True b. False Indicate whether the statement is true or false
Refer to the following graph.
If this country is producing between point P and G, it will gain by ________ its production of good A and importing more ________.
A. decreasing; good A B. decreasing; good B C. increasing; good B D. increasing; good A