The world population is approximately ________ people
A) 6.8 billion B) 6.8 trillion C) 680 million D) 2 trillion E) 6.8 million
A
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If the base year CPI market basket costs $250 and next year the CPI market basket costs $275, what is next year's CPI?
What will be an ideal response?
Use the following information on a hypothetical short-run production function to answer questions a-c
Units of Labor/Day 5 6 7 8 9 Units of Output/Day 120 140 155 165 168 The price of labor is $20 per day. Ten units of capital are used each day, regardless of output level. The price of capital is $50 per unit. a. Calculate the marginal and average variable product of each unit of labor input. b. Calculate total, average total, average variable, and marginal costs. c. Can you tell where diminishing marginal returns sets in?
The price elasticity of demand is equal to the slope of the demand curve
a. True b. False
A restriction on the quantity of a good that can be imported into a country is a(n):
a. tariff. b. quota. c. embargo. d. restricted exchange rate.