Based on the data in the table above, which worker at Decent Donuts has the highest marginal product?
A) the fourth
B) the fifth
C) the sixth
D) the seventh
C
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Prior to 2008, bank managers looked on reserve requirements
A) as a tax on deposits. B) as a subsidy on deposits. C) as a subsidy on loans. D) as a tax on loans.
Which of the following statements is true?
a. The demand for tobacco products tends to be elastic. b. Total revenue is maximized when price elasticity of demand is one. c. Goods are said to be price inelastic when the elasticity is greater than two. d. The demand for milk is more elastic than the demand for luxury travel cruises. e. The demand for 5-cent candy is more elastic than the demand for Irish lace tablecloths.
Because of their effect on interest rates,
A. capital flows weaken monetary policy but strengthen fiscal policy. B. capital flows strengthen monetary policy but weaken fiscal policy. C. the initial effects of a fiscal expansion on aggregate demand are strengthened. D. the initial effects of a monetary contraction are weakened.
Suppose the economy is closed with national saving of $3 trillion, consumption of $10 trillion, and government purchases of $4 trillion. What is GDP?
a. $3 trillion b. $9 trillion c. $11 trillion d. $17 trillion