The additional output produced by adding one more unit of an input is the:
A. total production.
B. marginal product.
C. slope of the marginal product curve.
D. average product.
Answer: B
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In economics, positive statements are about
A) the way things ought to be. B) the way things are. C) macroeconomics, not microeconomics. D) microeconomics, not macroeconomics.
If a manager has determined that a particular piece of capital is likely to increase the cash flow of a business by $10,000 for the next five years, what is the present value of the capital at an interest rate of 10 percent? (Assume that the cash flow first increases one year from today.)
If a consumer experiences a decrease in income, the new budget constraint will have the same slope as the old budget constraint
a. True b. False Indicate whether the statement is true or false
The type of currency in circulation in the modern U.S. economy is almost entirely
A. commodity money. B. metallic money. C. fiat money. D. silver certificates.