Jose owns his own business. The first three employees can create 10, 12, and 11 widgets per hour. When Jose hires the 4th worker the total production from all employees increased to 40 total widgets per hour. What was the marginal product of the 4th worker?
A. 13 widgets
B. 10 widgets
C. 33 widgets
D. 7 widgets
Answer: D
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A small country is an international lender and its domestic supply of loanable funds increases. Consequently, the equilibrium quantity of loanable funds used in the country ________ and the country's international lending ________
A) increases; decreases B) does not change; does not change C) does not change; increases D) increases; does not change
All of the following are reasons countries may be unable to use discriminatory trade practices to enforce labor standards EXCEPT
A) in order to be effective a coalition of countries must join together to impose them. B) countries can never impose trade barriers on other sovereign nations. C) the WTO requires nations to treat other nations the same. D) a single country may be unsuccessful in convincing members of its trading block to participate in imposing the sanctions. E) retaliation or a full blown trade war might result.
The GDP of a country can be derived by summing the:
a. expenditures on final goods and services produced domestically during the year. b. payments to employees and owners of capital resources and then subtracting depreciation and indirect business taxes. c. market value of all goods and services produced domestically during the period and then subtracting net exports from that figure. d. income payments to the resource suppliers and net exports.
Use the following table to answer the question below: The amount of total output produced from various combinations of labor and capital. 
If the capital stock is fixed at four units and there are three units of labor, what is the average product of labor?
A. 50 B. 140 C. 170 D. 157.5 E. none of the above