The marginal product of capital (MPK) can be calculated from the following ________
A) the capital share of income and the average output per unit of capital
B) the capital share of income and average capital per worker
C) output and capital
D) the capital share of income and output
E) none of the above
A
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The "tragedy of the commons" refers to a phenomenon where
A) people do not internalize an externality. B) people have distinct property rights to a resource. C) people overuse a common resource. D) individuals are not allowed to use a common resource.
Moe divides his time between studying Physics and studying Economics. His production possibilities curve for his final grade in each class is shown in the accompanying figure.
Both of Moe's professors require at least a 65 to pass and a 90 to earn an A. Which of the following is true?
A. Moe could earn an A in economics and still pass physics. B. Moe can pass both classes. C. Moe can pass physics, but only if he fails economics. D. Moe can pass economics, but only if he fails physics.
Checkable deposits are money because they are:
Acceptable as payment Fiat money Token money Legal tender
The central bank of the United States is:
A. the Federal Reserve System. B. Bank of America. C. Bank of the United States. D. the U.S. Treasury.