The curvature of the production function shows that as employment increases, the productivity of labor
A) remains positive and increases.
B) remains positive but decreases.
C) decreases and becomes negative.
D) remains constant.
B
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The percent increase in the CPI from one year to the next is a measure of the
A) real interest rate. B) inflation rate. C) GDP deflator. D) unemployment rate.
Refer to the accompanying table. Pat's opportunity cost of delivering a pizza is making: Pizzas Made Per HourPizzas Delivered Per HourCorey126Pat1015
A. 3/2 of a pizza. B. 2/3 of a pizza. C. 12 pizzas. D. 10 pizzas.
If the country is heading into a recession, the Fed might be able to counteract this by
A. increasing the discount rate. B. carrying out an expansionary fiscal policy. C. forcing the government deficit to decrease. D. acting to increase the money supply.
In economics the assumption is made that consumers and firms will make choices that maximize the ________ of each activity.
a. total net benefit b. total benefit c. sum of total benefit and total cost d. product of total benefit and total cost