Which of the following equations defines marginal revenue product?
a. MRP = P times Q.
b. MRP = total cost.
c. MRP = total revenue minus total cost.
d. MRP = MPP times price of the product.
d
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In the aggregate expenditures model of the economy, a downward shift in aggregate expenditures can be caused by a decrease in
A. saving or an increase in government spending. B. taxes or an increase in government spending. C. interest rates or a decrease in taxes. D. government spending or an increase in taxes.
Tom is a U.S. citizen. He took up a job and moved to the U.K. His income will lead to a(n) ________
A) decrease in the GDP of U.K. B) increase in the GNP of U.K. C) increase in the GDP of U.S. D) increase in the GNP of U.S.
Explain how a country whose currency is the reserve currency can use monetary policy for macroeconomic stabilization. In particular, explain the result if that country doubled its domestic money supply
What will be an ideal response?
If all my savings are invested in my consulting company, an increase in interest rates increases my implicit costs
Indicate whether the statement is true or false