To compare the GDP of countries with different currencies, it is necessary to use a/an _______________ rate.
a. base
b. fixed
c. standard
d. exchange
d. exchange
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The _____ effect indicates that an individual's income can buy more of all goods when the price of one good declines, everything else held constant
a. scale b. endowment c. substitution d. price e. income
Over the last 60 or so years, the percentage of women with paid jobs has increased significantly. Is this increase in female employment associated with an increase in the demand for labor, or is it associated with an increase in the supply of labor?
If a firm's total costs are $75 when it produces 10 units of output and $80 when it produces 11 units of output, then the marginal cost of producing the 11th unit is
A. $1. B. $5. C. $8.09. D. $10.
When a firm increases its capital usage
a. the total product curve can be expected to fall. b. the total product curve can be expected to rise. c. the marginal product of labor always rises. d. the marginal product of labor always falls