College calculus textbooks change from edition to edition because
A. recent discoveries challenge the legitimacy of Newton's methods.
B. faculty demand it.
C. even elementary calculus is an ever-changing discipline.
D. it's the only way for the publisher and author to make money.
Answer: D
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Suppose that the Australian economy initially uses 50 billion hours of labor to produce $5 trillion of real GDP. If 50 billion more hours are employed and Australia's real GDP increases by $4 trillion more,
A) Australia's production function exhibits diminishing returns. B) Australia's production function exhibits increasing returns. C) Australia has an Okun Wedge of $1 trillion. D) Australia has positive Lucas Wedge. E) Australia's production possibility frontier has a positive slope.
Which of the following products allows the seller to identify different groups of consumers (segment the market) and practice price discrimination?
A) clothing items sold through Macy's Department Store B) a cafe latte sold at Starbucks C) tickets to matinee shows at a movie theatre D) a hamburger sold at Burger King
Less developed countries are often characterized by imperfect capital markets. Assuming that the LCH applies to these countries and that a large proportion of the population is below fifty the
A) MPC should be relatively high. B) MPC should be relatively low. C) frequency of liquidity constraints is low. D) sensitivity of consumption to loans is low.
Which of the following workers is least likely to lose his/her job during a recession?
A. Carpenter B. Police officer C. Automobile assembly line worker D. Roofer