The above table shows the short-run production function for Albert's Pretzels. The marginal product of labor for the third worker is
A) 6.
B) 8.
C) 24.
D) not known from the information provided.
A
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Changes in real planned investment spending have
A) an inverse relationship to changes in the interest rate. B) no identifiable relationship to changes in the interest rate. C) a direct relationship to changes in the level of household savings. D) a direct relationship to changes in interest rates.
Keynes assumed that wages and prices were slow to adjust in order to explain
A) persistently high unemployment. B) high inflation. C) the high level of interest rates. D) why inflation fell in recessions.
In the above figure, assume the economy starts out in equilibrium at point d. If the Fed increases the money supply so that the new aggregate demand curve is AD3, then the long-run equilibrium will be at point
A) a. B) b. C) c. D) i.
The discount rate is the interest rate charged by the central bank when it makes loans to commercial banks
a. True b. False Indicate whether the statement is true or false