Refer to the above table. At what quantity of labor is the average product of labor maximized?
A. 2 units
B. 1 unit
C. 6 units
D. 3 units
Answer: D
Economics
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Government production accounts for about half of all GDP in the United States.
Answer the following statement true (T) or false (F)
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What are the problems with experimentation?
What will be an ideal response?
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People tend to spend more money the ______ the amount of credit available and the ____ the stock of liquid assets in the hands of consumers.
A. higher; higher B. lower; lower C. higher; lower D. lower; higher
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Which of the following would not be studied by macroeconomists?
A. The effects of tax cuts on consumer spending B. Factors affecting average wages in the U.S. economy C. Inflation in developing countries D. The worldwide operations of General Motors
Economics