The capital stock is fixed at 50 units, the price of capital is $30 per unit, and the price of labor is $25 per unit. 
Given the above, how much does the 23rd unit of output add to the firm's total cost?
A. $135
B. $750
C. $1,350
D. $75
E. none of the above
Answer: D
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Use the data in the table below to answer the next question. The data describes a hypothetical economy and are denominated in billions of dollars.Personal consumption expenditures$4,500Consumption of fixed capital150Gross private domestic investment800Government purchases950Exports65Imports85What is the value of net exports in this economy?
A. ? $20 billion B. ? $65 billion C. $20 billion D. $150 billion
This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.The game in the figure shown is a version of:
A. the first-mover advantage. B. the prisoner's dilemma. C. a sequential game. D. a repeated game.
To remain on its growth trend, an economy must grow more in an expansion than it fell during a recession.
Answer the following statement true (T) or false (F)
Suppose that the quantity of cars demanded exceeds the quantity of cars supplied. We would expect that:
A. the price of cars will increase. B. the price of cars will decrease. C. the supply will increase (supply will shift to the right) to meet the demand. D. the demand will decrease (demand will shift to the left) to meet the supply.