If the last unit of input increases total product, we know that the marginal product is:
A. negative.
B. zero.
C. indeterminate.
D. positive.
Answer: D
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From a Keynesian perspective, a short-run decrease in investment spending will shift the aggregate
A) supply curve to the left. B) supply curve to the right. C) demand curve to the left. D) demand curve to the right.
If you borrow money at a 9% nominal rate and the inflation rate is 2%, what is the real interest rate on the loan?
a. 9.0% b. 11.0% c. 7.0% d. 2.0% e. 4.5%
Assume that markets clear. If in the labor market there is
a. an excess supply of labor, wages will rise b. an excess demand for labor, wages will fall c. an excess demand for labor, wages will rise d. an excess supply of labor, wages stay constant e. a decline in labor demand, wages will rise
The relationship between consumption and disposable income is very unreliable and unpredictable
a. True b. False Indicate whether the statement is true or false