If 40 rupees = $1, then one rupee = _____________.
Fill in the blank(s) with the appropriate word(s).
$.025
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In the figure above, moving from production at point d to production at point a requires
A) technological change. B) a decrease in unemployment. C) decreasing the output of consumer goods in order to boost the output of capital goods. D) both capital accumulation and a decrease in unemployment.
Nicole's income elasticity of demand for hats is 1.5 . All else equal, this means that if her income increases by 20 percent, she will buy
a. 150 percent more hats. b. 50 percent more hats. c. 30 percent more hats. d. 20 percent more hats.
Refer to the above table. Suppose the marginal revenue product of the 7th worker is $1100. This implies that
A. the price of the good is $1. B. the price of the good is $8. C. the price of the good is $20. D. we cannot tell what the price of the good is without more information.
Advertising can create a barrier to entry of new firms into an industry and therefore reduce competition.
Answer the following statement true (T) or false (F)