Suppose the production function is given by Q = 3K + 4L. What is the average product of capital when 10 units of capital and 10 units of labor are employed?
A. 4
B. 3
C. 45
D. 7
Answer: D
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In the early 1900s,
a. federal and state governments typically supported management and opposed labor unions. b. "government by injunction" was a strong weapon for combating strikes. c. using troops to break strikes was considered a legitimate use of police power. d. the Supreme Court upheld employers' use of antiunion contracts. e. All of the above.
Which of the following is true?
a. Real federal spending per person was approximately 50 times higher in 1900 than 1800. b. Real federal spending per person grew more rapidly during the 19th century than during the 20th century. c. Real federal spending per person was approximately 60 times greater in 1990 than in 1916. d. Real federal spending per person has decreased significantly since 1964.
In the Phillips curve equation, which of the following will cause a reduction in the current inflation rate?
A) a reduction in the expected inflation rate B) an increase in the unemployment rate C) a reduction in the markup, m D) all of the above E) none of the above
Many insurance companies sell group policies that cover all of the employees at a particular firm, or all of the members of a particular organization. How could this policy help to overcome the problem of adverse selection?
What will be an ideal response?