Refer to the information provided in Table 31.2 below to answer the question(s) that follow.Table 31.2PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1 50 50 2002 50 60 2153 50 70 2254 50 80 230Refer to Table 31.2. From Period 2 to Period 3, the marginal return to capital is equal to
A. 1.0.
B. 2.0.
C. 3.21.
D. 3.58.
Answer: A
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Refer to Mexico and Japan. What is the cost of producing cloth in Japan?
a. 1/2 bushel of food per bolt of cloth.
b. 3/4 bushel of food per bolt of cloth.
c. 4/3 bushels of food per bolt of cloth.
d. 3 bushels of food per bolt of cloth.
The supply curve in the market for land that has limited availability is:
a. perfectly elastic. b. relatively inelastic. c. unit elastic. d. perfectly inelastic. e. relatively elastic.
Both Keynesian and monetarist theories believe that _______ aggregate _______ causes inflation.
A. An increase in; supply B. Excessive; supply C. Too little; demand D. Excessive; demand
If an economy is closed and wishes to increase its investment spending:
A. its only source of funding is domestic saving. B. its sources of funding are domestic and foreign saving. C. the government will need to increase its spending to provide for this. D. the government will increase taxes to provide for this.