A vertical line always has a slope of one
a. True
b. False
Indicate whether the statement is true or false
False
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Real GDP is $700 billion, average hours worked per week is 42 and aggregate hours is 150 billion hours. What is the economy's labor productivity?
A) $3.75 per hour B) $1.80 per hour C) $4.67 per hour D) $16.67 per hour E) $4.50 per hour
There are ________ members of the Board of Governors of the Federal Reserve System
A) 5 B) 7 C) 12 D) 19
A local restaurant offers an "all you can eat" Sunday brunch for $12 . Susan eats four servings, but leaves half of a fifth helping uneaten. Why?
a. Her marginal value of a serving of brunch has fallen below $12. b. Her marginal value of a serving has fallen below $2.36 ($12 divided by 5 servings). c. Her marginal value of food has fallen to zero. d. The total value she places on brunch today exactly equals $12.
Points that lie beneath the production possibilities curve are:
A. unattainable and inefficient. B. attainable but inefficient. C. unattainable but efficient. D. attainable and efficient.