Use the following table to answer the question below: The amount of total output produced from various combinations of labor and capital.
If the capital stock is fixed at one unit, how much does the third unit of labor add to total output?
A. 60
B. 80
C. 40
D. 20
E. none of the above
Answer: C
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Colonial production of tobacco satisfied England's mercantilist interests because:
a. it provided a substitute for imported Spanish tobacco. b. its poor quality discouraged English youth from smoking. c. it provided a good that could be taxed by the English. d. it ensured that the colonists would remain dependent on England for food.
Which of the following federal government expenditures is the largest burden on the budget?
A. social security B. medicare and medicaid C. defense D. interest on national debt
If Americans decide to buy more South African diamonds, what is the effect in the foreign market?
A. It will increase demand for U.S. dollars. B. It will decrease demand for U.S. dollars. C. It will increase supply of U.S. dollars. D. It will decrease supply of U.S. dollars.
The level of household savings constrains firm investment.
Answer the following statement true (T) or false (F)