Suppose that you can hire a worker in one-hour increments. For hours of work up to 4, the total benefit of the worker (in dollars) is B(0) = 0, B(1) = 25, B(2) = 45, B(3) = 60, and B(4) = 70. What is the marginal benefit of the second hour of the worker's time?
A. $10
B. $20
C. $25
D. There is not enough information to answer the question.
B. $20
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The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the Japanese yen ________ against the U.S dollar and the Euro ________ against the U.S. dollar
A) appreciated; appreciated B) depreciated; appreciated C) depreciated; depreciated D) appreciated; depreciated
U.S. baby boomers are beginning to retire and withdraw their savings for retirement. What effect should we expect this to have on equilibrium price and quantity of financial assets?
A. Price rises and quantity also rises. B. Price falls and quantity also falls. C. Price rises and quantity falls. D. Price falls and quantity rises.
The demand for good X is estimated to be Qxd = 10,000 ? 4PX + 5PY + 2M + AX where PX is the price of X, PY is the price of good Y, M is income, and AX is the amount of advertising on X. Suppose the present price of good X is $50, PY = $100, M = $25,000, and AX = 1,000 units. What is the quantity demanded of good X?
A. 61,300 ? 4PX B. 61,500 C. 61,500 ? 4PX D. 61,300
Figure 34-8
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Figure 34-8 has four sets of production possibility curves for two hypothetical countries. In which case will there be no advantage to trade between the two countries?
A. 1 B. 2 C. 3 D. 4