Refer to the table below. The marginal benefit of the 6th unit of activity is:Units ofActivity TotalCostTotalBenefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $7
B. $1
C. $2
D. $4
Answer: C
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Which of the following statements is (are) correct? In the insider/outsider model there is
a. unemployment due to the real wage being set above the market clearing level. b. cyclical unemployment in response to changes in aggregate demand. c. structural unemployment in response to hysteresis. d. Both a and b e. all of the above
All of the following shift the labor demand curve EXCEPT changes in
A) fringe benefits offered to employees. B) the demand for the final product. C) labor productivity. D) prices of related factors.
Between two countries, comparative advantage is found by comparing the:
a. relative costs of production in each country. b. absolute costs of production in each country after accounting for inflation. c. labor hours required to produce a bundle of products in each country. d. level of interest rates in each country. e. shipping and transportation costs of each country.
If the United States increased its budget deficit, and it is at or near full employment, the most likely effect is to crowd
A. in investment and crowd out net exports. B. out investment and crowd in net exports. C. in investment and crowd in net exports. D. out investment and crowd out net exports.