Which of the following best represents economic growth?
A. an increase in real Gross Domestic Product (GDP)
B. an increase in nominal Gross Domestic Product (GDP)
C. an increase in the per capita nominal Gross Domestic Product (GDP)
D. an increase in the per capita real Gross Domestic Product (GDP)
Answer: D
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Refer to the table above. What is the marginal product of the sixth worker?
A) 20 pairs of shoes B) 46.7 pairs of shoes C) 60 pairs of shoes D) 280 pairs of shoes
Betsy's utility depending from her consumption of coffee is shown in the table above. Betsy's marginal utility from the 3rd cup of coffee per day is
A) 30. B) 85. C) 90. D) 10.
Which of the following countries does NOT use the euro?
A) Estonia B) Belgium C) Finland D) United Kingdom
When consuming a good creates positive externalities,
a. private demand increases b. private demand decreases c. the private demand curve overstates the marginal social benefit of the good d. the private demand curve understates the marginal social benefit of the good e. the equilibrium quantity increases without government intervention