The extra revenue that results from hiring another worker is
A. the marginal revenue of output.
B. the marginal revenue product of labor.
C. the average revenue of output.
D. the marginal input cost.
B. the marginal revenue product of labor.
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Use the graph to answer the following question:
If the market for investment is initially in equilibrium at point A, but then implementation of fiscal policy causes crowding out to occur, the equilibrium in the market will likely
A. remain at point A. B. move toward point B. C. move toward point C. D. move toward point D.
Average tariff levels in the United States in the last decade are
A) about equal to the average since 1930. B) above the average since 1930. C) positive, but below the average since 1930. D) zero, as there are no longer any tariffs in the United States.
Which of the following is not included in M1?
A) retail money market mutual funds B) checkable deposits C) traveler's checks D) all of the above
Refer to Figure 5.2, which shows a family of average cost curves. The average variable cost curve is represented by:
A. Curve 1. B. Curve 2. C. Curve 3. D. the vertical sum of curve 2 and curve 3.