A marginal revenue product curve shows the change in
a. total revenue caused by a one-unit change in output, other things constant
b. total revenue caused by a one-unit change in an input, other things constant
c. total product caused by a one-unit change in output, other things constant
d. total product caused by a one-unit change in an input, other things constant
e. total revenue product caused by a one-unit change in the price of the output, other things constant
B
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Which of the following is likely to lead to a partial recovery after a recession?
A) A decrease in money supply B) A decrease in tax rates C) A decrease in government spending D) An increase in the interest rate
Refer to Figure 3.2. At any consumption bundle with the quantity of good X exceeding the quantity of good Y (that is, a bundle located below the 45 degree line, like point A), Alvin's marginal rate of substitution of good X for good Y is
A) diminishing. B) positive. C) constant and positive. D) zero.
If purchases of foreign assets by U.S. residents exceed purchases of U.S. assets by foreign residents, then U.S. net capital outflow is positive
a. True b. False Indicate whether the statement is true or false
A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.