Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 210 computers are produced per week. Given this information, there
A. is diminishing marginal product.
B. are too many workers.
C. is increasing marginal product.
D. are not enough workers.
Answer: A
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Table 20-5Year CPI 2015 207 2016 215 10. Refer to Table 20-5. Consider the following values of the consumer price index for 2015 and 2016. The inflation rate for 2016 was equal to
A) 215 percent. B) 21.5 percent. C) 8.0 percent. D) 3.9 percent.
Under a fixed exchange rate regime, contractionary fiscal policy will tend to cause which of the following?
A) a reduction in imports B) a reduction in net exports C) an increase in investment D) all of the above
In the long run, what level of economic profits can a monopolistic competitor expect to receive?
A) positive B) zero C) negative D) either negative or positive, depending on the demand for its product and its costs
Keynes argued that the factors that make up aggregate demand are stable and do not change unexpectedly.
Select whether the statement is true or false. A. True B. False