A firm produced 376 units with 10 workers. When the eleventh worker was hired, the output increased to 398 units. The marginal product of the eleventh worker is:
A) 22 units.
B) 37.6 units.
C) 36.18 units.
D) 398 units.
A
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The rate at which banks can borrow excess reserves from other banks is equal to
A) the discount rate. B) the required reserve ratio. C) the interest rate paid on reserves held with the Fed. D) none of the above.
Dumping is considered a practice that seriously harms domestic producers because
A) the quality of the dumped good is superior to that of the importing country. B) it allows the exporting country to use poor quality materials. C) it establishes a price that cannot be met by domestic producers. D) it discriminates between wealthy and poor countries.
Which of the following causes an increase in demand for a normal good?
A. decrease in income B. decrease in price C. increase in the price of a substitute D. increase in the price of a complement
Which of the following is a factor of production?
A) an acre of forested land B) a U.S. Treasury bond C) 20 shares of Ford stock D) $25,000 in cash