Daniel owns a coffee kiosk. All of his employees work 8 hours per day. In 2011, he employed 6 people who produced a total of 912 cups of coffee each day. In 2012, he hired a seventh employee and production increased to 1008 cups of coffee each day. In Daniel's kiosk, productivity
a. increased by about 10.5 percent
b. increased by 9.5 percent
c. decreased by about 5.6 percent
d. decreased by about 5.3 percent
d
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The above table gives the demand schedule for a monopoly. The demand is elastic at all prices between
A) $6 and $1. B) $5 and $1. C) $3 and $1. D) $6 and $4. E) $4 and $3.
There are many cattle ranchers in the world, and there are also many McDonald's restaurants in the world. Why, then, does a McDonald's restaurant face a downward-sloping demand curve while a cattle rancher faces a horizontal demand curve?
What will be an ideal response?
Public parks and libraries are examples of
a. economic goods. b. free goods. c. intangible goods. d. public goods.
When the Fed sells government securities, the banks':
A. reserve requirements will increase and lending will contract, causing a decrease in the money supply. B. reserves will increase and lending will expand, causing an increase in the money supply. C. reserves/deposit ratio will increase and lending will expand, causing an increase in the money supply. D. reserves will decrease and lending will contract, causing a decrease in the money supply.