Refer to the above table. What does the marginal physical product equal when the amount of labor goes from 12 to 13 units?
A) 58.5
B) 70
C) 690
D) 760
B
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Bertha holds some of her savings as currency and coins placed in her sewing basket. This is an example of
A) precautionary demand for money. B) asset demand for money. C) transactions demand for money. D) wealth demand for money.
The success of self-employed entrepreneurs depends on
What will be an ideal response?
Consider Figure 12.3. If Becky's payoff in the second rectangle from the top were 80 instead of 60, the outcome of the game would be that:
A. both choose a high price. B. both choose a low price. C. Becky chooses a high price and David chooses a low price. D. David chooses a high price and Becky chooses a low price.
Melanie decided to save 20% of her annual earnings for 10 years so she would have a down payment for a house. After 5 years, what change in the economy would cause an increase in the purchasing power of the funds she has managed to save?
a. recession b. depression c. deflation d. stagflation