The marginal benefit of a worker to a firm is the value of the extra output that results when
A) work is outsourced to a foreign country.
B) workers get paid for working overtime.
C) some workers are laid off and the remaining workers become more productive.
D) an additional worker is hired.
D
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Refer to Table 9-11. Suppose an economy has only three goods and the typical family purchases the amounts given in the table above. If 2011 is the base year, then what is the CPI for 2016?
A) 40.08 B) 100 C) 180 D) 208
According to the quantity theory of money, changes in the price level are primarily the result of changes in the:
A. quantity of money. B. unemployment rate. C. rate of spending. D. total output.
(Advanced analysis) Answer the question on the basis of the following information: The equations for the demand and supply curves for a particular product are P = 10 - .4Q and P = 2 + .4Q, where P is price and Q is quantity expressed in units of 100
After an excise tax is imposed on the product, the supply equation is P = 3 + .4Q. Refer to the given information. The equilibrium quantity after the excise tax is imposed is: A. 750 units. B. 850 units. C. 875 units. D. 950 units.
Suppose an economy experiences an increase in technological progress. This increase in technological progress will
A) allow more output to be produced with the same number of workers. B) allow the same amount of output to be produced with fewer workers. C) lead to changes in the types of goods produced. D) all of the above E) none of the above