Which of the following statements is true?
A) The average product of labor is at its maximum when the average product of labor equals the marginal product of labor.
B) The average product of labor tells us how much output changes as the quantity of workers hired changes.
C) The average product of labor is at its minimum when the average product of labor equals the marginal product of labor.
D) Whenever the marginal product of labor is greater than the average product of labor the average product of labor must be decreasing.
A
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All of the following actions were taken by the Thai government to help Thailand maintain its peg against the dollar in the 1990s except
A) imposing restrictions on exports to the United States to prevent too many dollars from entering the economy. B) borrowing dollars from the International Monetary Fund in exchange for baht. C) increasing domestic interest rates to attract more foreign investors. D) buying baht on the foreign exchange market to support higher demand for the baht.
A bank has $1000 in deposits and maintains a 12 percent reserve ratio. Its reserves are $_____
Fill in the blank(s) with correct word
If the efficient markets hypothesis is correct, then
a. the number of shares of stock offered for sale exceeds the number of shares of stock that people want to buy. b. the stock market is informationally efficient. c. stock prices never follow a random walk. d. All of the above are correct.
If the demand for school ball caps is inelastic, an increase in price will result in:
A. a decrease in profits. B. an increase in total revenue. C. a decrease in total revenue. D. an increase in the quantity demanded.