In a small European country, it is estimated that a $10,000 increase in capital per hour worked will increase real GDP per hour worked by $300. Based on this information, what is the slope of the per-worker production function in this range?
A) 0.03 B) 3.3 C) 33.3 D) 333
A
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Incremental cost assessment involves
a. valuing TSC at a single level of abatement b. subtracting baseline TSC prior to undertaking policy from post-policy TSC c. summing baseline TSC and post-policy TSC d. finding the ratio of TSC to MSC at a given abatement level
If there was a positive technological shock which increased the demand for labor, then
A) imports would increase. B) GDP would decrease. C) GDP would increase. D) imports would decrease.
The Value of Bonuses Oscar's Outdoor Signage employs salesmen to find new advertisers for existing signs. In an average month, salaried sales staff can keep 80 of 100 signs under contract in a given month. When Oscar experimented with a bonus of $100
for each sign under contract this was increased to 90 of 100 signs. How large must the contribution margin on a sign be to make it profitable to offer the bonuses?
In order to prove that Dr. Pepper and 7-Up are substitutes, the FTC should test the ____ and get a ____
a. price elasticity of demand; number less than 1 b. income elasticity; positive number c. price elasticity; negative number d. price elasticity of demand; number greater than 1 e. cross-price elasticity; positive number