Sam owns a candy factory and hires workers in a competitive labor market to pack cases of candy. The company's weekly output of cases of candy varies with the number of workers hired, as shown in the following table: Number ofworkersCases/week00116023103450458057006810 The marginal product of the fourth worker is ________ cases per week.
A. 130
B. 145
C. 140
D. 110
Answer: A
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The following table provides nominal exchange rates for the U.S. dollar.CountryForeign currency/dollarDollar/foreign currencyPoland(Zloty)4.367.229South Africa(rand)6.944.144Based on these data, the nominal exchange rate equals approximately ________ zloty per South African rand or, equivalently, ________ rand per Polish zloty.
A. 0.021; 47.640 B. 0.629; 1.590 C. 47.640; 0.021 D. 1.590; 0.629
Government spending programs that create jobs are often popular because
A) when spending programs are funded by the government there are no secondary effects. B) if a spending program is approved by Congress, it means that the value of what is produced is greater than the value of the resources used to produce it. C) the benefits of job creation are always greater than the costs. Jobs are the key to economic progress. D) the created jobs are highly visible, while the secondary effects of lost jobs in other areas, higher interest rates, and higher future taxes are less visible.
From the mid-1980s until late 2007, many world economies became less volatile because of
A. sound macroeconomic policies. B. several structural change that made the economies more flexible. C. good luck. D. All of these responses are correct. E. a through c only
When supply decreases and the supply curve shifts to the left, equilibrium price ________ and equilibrium quantity ________.
A. increases; increases B. increases; decreases C. decreases; increases D. decreases; decreases