The table above shows some data that describe Tom's T-Shirts' total product when Tom's has 1 sewing machine. Diminishing marginal returns begin when the ________ is employed
A) second worker
B) fifth worker
C) fourth worker
D) third worker
D
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Gross public debt minus all government interagency borrowing is
A) government budget deficit. B) an entitlement. C) U.S. Treasury bonds. D) net public debt.
When a monopolist engages in perfect price discrimination,
A) the marginal revenue curve lies below the demand curve. B) the demand curve and the marginal revenue curve are identical. C) marginal cost becomes zero. D) the marginal revenue curve becomes horizontal.
When graphing the demand curve:
A. quantity goes on the horizontal axis and price goes on the vertical axis. B. quantity goes on the vertical axis and price goes on the horizontal axis. C. both quantity and price go on the horizontal axis. D. it doesn't matter which axis price and quantity are placed on.
As the unemployment rate falls,
A) the proportion of the unemployed finding a job increases. B) the separation rate increases. C) the young and unskilled experience larger-than-average decreases in unemployment. D) both A and C. E) all of the above