The addition to revenue obtained from firing an additional unit of labor is
A) total product.
B) marginal revenue product.
C) marginal factor cost.
D) marginal physical product of labor.
B
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In the wake of worsening relations with China, some Americans called for an increase in tariffs on Chinese products coming into America. If higher tariffs are imposed on clothing produced in China, the price of clothing in America would
A) decrease. B) increase. C) not change. D) first increase then decrease. E) first decrease then increase.
The Gini coefficient is really a point estimate of equality at a certain time period. Why is this a limiting factor when it comes to examining issues of equality over a lifetime?
What will be an ideal response?
By external balance, most economists mean
A) avoiding excessive imbalances in international payments. B) balance between exports and imports. C) balance between the trade and service accounts. D) what amounts to fixed exchange rates. E) imbalance in internal transactions.
Which of the following is not included in the M1 category?
a. Currency b. Checkable deposits c. Traveler's checks d. Savings deposits