Refer to the information provided in Figure 7.3 below to answer the question(s) that follow.
Figure 7.3Refer to Figure 7.3. The marginal product of the first worker is ________ yards raked.
A. 10
B. 13.5
C. 17
D. 27
Answer: A
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If firms pay employees an efficiency wage: a. absenteeism would be expected to decrease. b. turnover would be expected to increase
c. training costs would likely increase. d. more shirking on the job is likely to occur.
A command-and-control approach to environmental policy
a. requires that the least amount of resources be used to achieve an objective b. uses incentives to encourage pollution reduction c. uses limits or restrictions to directly regulate polluters d. is rarely used by governments in the United States and other nations
How is the use of leverage a "double-edged sword"?
What will be an ideal response?
In the IS curve, if Y falls for any given level of the real interest rate ________
A) consumption decreases B) output increases C) saving increases D) all of the above E) none of the above