Refer to Table 10.1. If the price of output is $2 per unit, the marginal revenue product of the eighth unit of labor is:
A. $10.
B. $20.
C. $310.
D. $620.
Answer: B
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Because of the differing account conventions, there is a great deal of arbitrariness in a number that purports to be
A. the deficit. B. the surplus. C. the debt. D. all of these answer options are correct.
Which of the following is not included as "net income" in the U.S. balance of payments?
a. Income paid by a U.S. company to foreign consultants. b. Profits earned by U.S. companies from foreign operations. c. Foreign dividends received by U.S. residents. d. Profits earned by U.S. companies from foreign operations and reinvested abroad. e. All the above are includedas net income in the U.S. balance of payments.
Which of the following is not a consequence of above-equilibrium wages in a labor market?
a. a surplus of labor b. unemployment c. more unionized jobs d. All of the above are consequences of above-equilibrium wages.
How many units of land would you hire?
