Refer to the data provided in Table 10.1 below to answer the following question(s).
Table 10.1 
Refer to Table 10.1. The marginal revenue product of the ________ worker is $150.
A. second
B. third
C. fourth
D. fifth
Answer: A
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The rational expectations hypothesis is a theory that states that
A) people make their economic plans by using all available past and present information and their understanding about how the economy operates. B) individuals can predict the future perfectly, at least with respect to macroeconomic variables like the interest rate and inflation. C) people make their economic plans in an irrational, intuitive manner. D) people make their economic plans by relying on the policy statements made by the President and by leaders in Congress.
A tax hike ________ aggregate demand and ________ aggregate supply
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) does not change;increases
When producing a good creates pollution, an external cost, and the government imposes a tax equal to the marginal external cost, then
A) the amount of output moves farther away from the efficient amount. B) transaction costs will be high. C) the efficient amount of the good will be produced. D) property rights must have already been established.
Refer to Table 23-4. Given the consumption schedule in the table above, the marginal propensity to save is
A) 0.3. B) 0.4. C) 0.5. D) 0.6.