Minneapolis business Rogue Chocolatier sells specialty chocolate bars with a high cocoa content. Rogue can produce 15 chocolate bars per day with one employee, 29 with 2, 35 with 3 and 40 with 4 employees. Which statement is TRUE?
A) Rogue's marginal product curve decreases continually.
B) Rogue's marginal product curve initially increases and then decreases.
C) Rogue's total product curve increases at an increasing rate.
D) Rogue's marginal product curve decreases initially and then increases.
A
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The funds that nation's have on account at the International Monetary Fund is measured in
A. the currency of the nation that has deposited the funds. B. a quota subscription. C. an international unit of accounting called special drawing rights. D. U.S. dollars.
Stagflation occurs when there is a decline in the unemployment rate.
Answer the following statement true (T) or false (F)
When the domestic currency strengthens under a fixed exchange-rate system, this is called
A. a revaluation. B. a devaluation. C. an appreciation. D. a depreciation.
In the neoclassical growth model, if two countries are exactly the same but one has a lower population growth, we would expect that country to have
a. higher output, a higher capital-to-labor ratio, and higher per capita output growth in the steady state. b. the same output and capital-to-labor ratio, but higher per capita output growth in the steady state. c. higher output, a higher capital-to-labor ratio, and the same per capita output growth in the steady state. d. higher output, the same capital-to-labor ratio, and the same per capita output growth in the steady state.