In the above table, diminishing marginal product occurs when employing the
A. first worker.
B. third worker.
C. fourth worker.
D. second worker.
Answer: C
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When the price level in the United States falls relative to the price level of other countries, ________ will fall, ________ will rise, and ________ will rise
A) exports; imports; net exports B) net exports; imports; exports C) net exports; exports; imports D) imports; exports; net exports
Last year a country had exports of $50 billion, imports of $60 billion, and domestic investment of $40 billion. What was its saving last year?
a. $30 billion b. $20 billion c. $10 billion d. -$10 billion
In a perfectly competitive market, consumer surplus typically is
A. undefined. B. zero. C. negative. D. positive.
Which aggregate supply curve has a positive slope?
A) both long run and short run B) neither long run nor short run C) short run only D) long run only