What does it mean for an industry to be considered an increasing cost industry?
What will be an ideal response?
An increasing cost industry is one where resource prices rise as the size of the industry expands.
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Refer to the table below. As the firm increases the number of employee-hours each day from 1 to 2, output increases by:OutputPer DayNumber ofEmployeeHours Per Day00331662994132716511
A. 66 units. B. 33 units. C. 99 units. D. 132 units.
When the exchange rate is
A) flexible, purposeful stabilization is more difficult because monetary policy has no power at all to affect domestic output and employment. B) fixed, purposeful stabilization is less difficult because monetary policy has no power at all to affect domestic output and employment. C) fixed, purposeful stabilization is more difficult because monetary policy has no power at all to affect domestic output and employment. D) a crawling peg, rather than fixed, purposeful stabilization is more difficult because monetary policy has no power at all to affect domestic output and employment. E) fixed rather than crawling peg purposeful stabilization is more difficult because fiscal policy has no power at all to affect domestic output and employment.
If the credits for a principles of economics section is three units and an instructor teaches two sections with 100 students in each and tuition and fees at your school are $100 per unit, then the marginal revenue product for your school from hiring that instructor that semester is:
A. $100. B. $300. C. $30,000. D. $60,000.
Which of the following is most likely to reduce the rate of economic growth?
A) investment in human capital B) a high domestic saving rate C) subsidies for R&D activities D) slow technological progress