What is the marginal product of labor?
What will be an ideal response?
The marginal product of labor is the additional output produced by one additional unit of labor.
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The monetary base is equal to the sum of coins,
A) currency and banks' reserves at the Federal Reserve. B) currency and checkable deposits at banks. C) currency, banks' reserves at the Federal Reserve and checkable deposits at banks. D) and checkable deposits at banks. E) U.S. government securities owned by the Federal Reserve and Federal Reserve notes.
Explain what the phrase "price rationing" means
What will be an ideal response?
Joe works for an environmental agency. Every day he chooses to fill his reusable water bottle and bring it to work instead of bringing in a plastic disposable water bottle each day. Joe most likely derives utility from:
A. the taste of water from his reusable water bottle. B. the knowledge that he is doing something good for the environment by not using plastic water bottles. C. the knowledge that others in his firm observe his environmentally-friendly choice of water bottle. D. Joe likely derives utility from all three of these sources.
Which of the following pairs is the best example of complements?
a. Coffee and tea. b. DVDs and tapes. c. Hiking boots and athletic shoes. d. Tortillas and salsa.