Number of workersUnits of output00110230344455
Refer to Table 5.1, which gives a firm's production function. Assume that all non-labor inputs are fixed. Marginal product is maximized when the firm hires:
A. 2 workers.
B. 3 workers.
C. 4 workers.
D. 5 workers.
Answer: A
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Other things equal, an appreciation of the Algerian dinar in relation to the euro will act to increase Algerian demand for European goods and to decrease European demand for Algerian goods
a. True b. False Indicate whether the statement is true or false
The real rate of interest
A. is always negative. B. can be negative. C. can never be negative. D. is always zero.
Refer to the information provided in Figure 2.6 below to answer the question(s) that follow.
Figure 2.6Refer to Figure 2.6. Economic growth is represented by a
A. shift from ppf1 to ppf2. B. movement along ppf2. C. shift from ppf2 to ppf1. D. movement along ppf1.