When a firm hires a worker for one hour, the marginal benefit to that firm equals the:
A. dollar value of the goods produced by that worker in one hour.
B. hourly wage of that worker.
C. number of items the worker produces in that hour.
D. price of each item that the worker produces in that hour.
Answer: A
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If the multiplier is 10, the marginal propensity to consume must be 0.1
Indicate whether the statement is true or false
If the consumption of a good by one person reduces its consumption by others, then the good is
A. nonrivalrous in consumption. B. rivalrous in consumption. C. nonexcludable. D. excludable. E. b and d
Which of the following is counted as a benefit from international trade?
A) New production processes developed in one nation are transmitted to others. B) Intellectual property such as music and computer applications is introduced throughout the world. C) New goods have been introduced to other parts of the world. D) All of the above are benefits from international trade.
The "Taylor rule" is an example of a fixed rule for making monetary policy
a. True b. False Indicate whether the statement is true or false