All else equal, as the capital stock increases, the marginal product of capital will
A) increase at an increasing rate.
B) increase at a decreasing rate.
C) decrease at an increasing rate.
D) decrease at a decreasing rate.
C
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Along the per worker production function, as the capital-labor ratio ________, increases in output per worker become progressively ________
A) increases; larger B) increases; smaller C) decreases; larger D) decreases; smaller
Judging from the table, which of the following is the best estimate for the percentage of discouraged workers in the civilian labor force?
a. 0.2 percent
b. 0.9 percent
c. 1.3 percent
d. 3.5 percent
Refer to Figure 3-2. A decrease in the price of substitutes in production would be represented by a movement from
A) A to B. B) B to A. C) S1 to S2. D) S2 to S1.
Refer to Figure 4-2. Suppose Phil and Miss Kay are the only consumers in the market. If the price is $12, then the market quantity demanded is
A. 4 units. B. 0 units. C. 2 units. D. 6 units.