If diminishing marginal returns have already set in for Danica's Dog Training Emporium and the marginal product of the fifth dog trainer is 18, then the marginal product of the fourth dog trainer must be
A. greater than 18.
B. negative.
C. less than 18.
D. zero.
Answer: A
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Explain the differences in people who are classified as unemployed, underemployed, and discouraged workers. Are these people included in the labor force?
What will be an ideal response?
Changes in business inventories are:
A. classified as investment expenditures. B. classified as government purchases. C. classified as consumption expenditures. D. excluded from GDP.
Refer to the above figure. A unit tax has been placed on the good. The producer pays what amount of the tax?
A. none of the tax B. P2 - P0 C. P1 - P0 D. P2 - P1
Real GDP per capita is found by:
A. adding real GDP and population. B. subtracting population from real GDP. C. dividing real GDP by population. D. dividing population by real GDP.