If aggregate spending in an economy can be written as Y = 15,000 + 0.6Y - 20,000r, and potential output equals 35,000, what real interest rate must the Federal Reserve set to bring the economy to full employment?
A. 5 percent
B. 4 percent
C. 2 percent
D. 3 percent
Answer: A
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The value of a worker's marginal product:
A) is the increment in total cost of a firm when the worker is hired. B) is the additional revenue that the worker brings in to the firm. C) is the maximum price at which a product can be sold in a market. D) equals the average product of a firm divided by the marginal product of the worker.
By definition, a proprietorship is
A. owned by many shareholders. B. a large manufacturing concern. C. managed by a large group called the "board of directors." D. owned by a single individual.
If MR A. fewer than this quantity.
B. zero.
C. more than this quantity.
D. at this quantity.
Which of the following would not be covered by Medicare? Payments for:
A. All reasonable costs for the first sixty days of inpatient care in a hospital per "benefit period" B. Post-hospital nursing services, home health care, and hospice care for the terminally ill C. Voluntary and subsidized medical insurance to cover physician services, lab tests, and outpatient hospital services D. Nonprescription drugs and travel to physician offices for normal medical treatment