Refer to Scenario 7.7 below to answer the question(s) that follow. SCENARIO 7.7: A lawn service company has the following production possibilities. With one, two, three, and four workers, the company can mow 4, 9, 12, and 14 lawns per day, respectively. Refer to Scenario 7.7. The marginal product of the third worker is
A. 2.
B. 3.
C. 4.
D. 12.
Answer: B
You might also like to view...
If the working age population is 200 million, 150 million are employed, and 6 million are unemployed, the unemployment rate is
A) 3.0 percent. B) 25.0 percent. C) 4.0 percent. D) 12.0 percent. E) 3.8 percent.
Assume that the Federal Reserve replaces the money stock with the interest rate as an intermediate target. Then,
a. the range for the target interest rate would be chosen to hit the inflation rate, unemployment rate, and growth rate of the economy. b. if the Treasury bill rate fell temporarily below the target range, the Open Market Desk would sell securities in the open market until the Treasury bill rate rose to the target range. c. if the Treasury bill rate rose above the target range, the Open Market Desk would purchase Treasury bills or other government securities. d. All of the above
During Prohibition overdose and accidental poisoning due to alcohol _____ and the variation in the quality of alcohol _______
a. fell; fell b. fell; increased c. increased; fell d. increased; increased
Which of the following government programs provides recipients with in-kind benefits?
a. Temporary Assistance to Needy Families (TANF). b. Social Security. c. The food stamp program (SNAP). d. Unemployment compensation.