In the above table, what is the marginal physical product of worker 5?
A) 8
B) 10
C) 11
D) 7
A
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Keynes' speculative demand for money arises because
A) individuals are continually trying to maximize their wealth and income. B) money is necessary to finance transactions. C) there are costs to switching between money and interest-earning assets. D) capital gains on bonds held can be made when interest rates are rising.
As more people quit smoking in the United States, what is expected to happen to the price elasticity of supply of cigarettes?
A) It will decrease. B) It will increase. C) It can increase or decrease. D) It will not change.
According to the text application, renewable energy certificates (RECs)
a. can be issued only by major electric utilities b. are sold only as a bundle with one megawatt-hour of green power c. convey rights to the benefits linked to renewable energyto the REC final owner d. all of the above
Which of the following represents an uninsurable risk to a business firm?
A. The possibility that its warehouse will burn down. B. The possibility that several of its workers will be injured at work. C. The possibility that an adverse change in consumer tastes will decrease the demand for the firm's product. D. The possibility that a tornado will damage the plant and stop production for a month.