The following is a total-product schedule for a resource. Assume that the quantities of other resources the firm employs remain constant.Units of ResourceTotal Product124242354464572If the firm's product sells for a constant $2 and the price of the resource is a constant $16, the firm will employ how many units of the resource?
A. 5
B. 4
C. 3
D. 2
Answer: A
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According to the open-economy macroeconomic model, if the United States moved from a government budget deficit to a government budget surplus, U.S. real interest rates would increase and the real exchange rate of the U.S. dollar would appreciate
a. True b. False Indicate whether the statement is true or false
Which of the following statements explains the relationship between supply, demand, price, and quantity in this graph?
a. The demand for land does not change with price, but an increase in supply will lower
the price, which can lead to a decrease in the quantity made available by owners.
b. The quantity of land supplied remains the same at any price, but an increase in
demand can increase the price owners receive and result in an increase in the overall
supply.
c. The price of land is determined by the quantity of acres supplied, and the higher the
acreage, the higher the demand and therefore the price paid to land owners.
d. The supply of land does not change with price, but an increase in demand will
increase the price, which can lead to an increase in the quantity made available by
owners.
You make a $1,000 investment in the stock of ABC Inc. Over the next year the investment decreases by 60%. What percentage increase do you need in the following year on your holding to be back to $1,000?
What will be an ideal response?
Consider an industry that is in long-run equilibrium. An increase in demand leads to no change in the price of the good. We know that this is
A) a decreasing-cost industry. B) a constant cost industry. C) an increasing-cost industry. D) not a competitive industry.