Automobile manufacturers view the assembly-line workers as
A) capital services.
B) labor services.
C) materials.
D) None of above.
B
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The table above shows the total product schedule for The X Firm. The average product of labor is maximized at ________ workers because ________
A) 4; productivity is maximized when the 4th worker is employed B) 3; output starts to decrease with the 4th worker C) 5; output is maximized with the 5th worker D) 4; the marginal product of labor is increasing with the 4th worker E) 5; the APL exceeds the MPL for the 5th worker
Which of the following statements about the importance of trade to the U.S. economy is true?
A) Overall, about 80 percent of U.S. manufacturing jobs depend directly or indirectly on exports. B) The United States is the second largest exporter in the world. C) The U.S. economy is highly dependent on international trade for growth in its gross domestic product. D) Since 1950, both exports and imports have steadily decreased as a fraction of U.S. gross domestic product.
According to the quantity theory of money, a shortage of money should result in deflation (falling prices) or negative growth (decreasing quantities of output)
Indicate whether the statement is true or false
The Confederate government
(a) failed to increase its external debt and thus produced domestic inflation. (b) did not make the Confederate currency legal tender. (c) failed to raise sufficient resources because of unwillingness to increase the supply of paper money. (d) did none of the above.