Table 17.1Refer to Table 17.1. The marginal product of the fourth unit of labor is:
A. 40.
B. 50.
C. 52.5.
D. 210.
Answer: B
You might also like to view...
In 2000 . many economists believed that the most serious macroeconomic problem confronting the U.S. economy was an inflationary gap. Which policies would be effective in dealing with this problem?
a. Increase transfer payments. b. Increase government purchases. c. Decrease personal income taxes. d. Increase personal income taxes.
Other things constant, which of the following job characteristics would be most likely to result in a higher pay rate for the job?
a. The employer provides low cost child-care services on the premises. b. The job requires substantial amounts of stressful out-of-town travel. c. The job involves working in pleasant surroundings. d. The job is widely viewed as prestigious.
Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
A quota
A) makes domestic consumers better off. B) makes both domestic producers and consumers better off. C) makes everyone worse off. D) makes domestic producers better off.