Use the following table to answer the question below: The amount of total output produced from various combinations of labor and capital. 
If capital is fixed at three units, how much does the fourth unit of labor add to total output?
A. 16
B. 28
C. 36
D. 34
E. none of the above
Answer: E
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Gross domestic product is a measure of
A. the size of the largest industry in an economy. B. the money value of all final goods and services produced in a year by the economy. C. the volume of goods and services, which involved in international trade. D. the goods and services produced strictly by corporations. E. the nonmarket production of goods and services.
Your textbook argues that in a market system income is earned and "distributed"
A) in the process of its creation. B) as a result of the supply and demand for productive services. C) in ways that might not be considered "fair" in all cases. D) in all of the above ways.
Prices of PlayStation 4 game systems are similar at almost every large retailer and little price competition occurs among these retailers. An explanation for this is
A) retailers are in a prisoner's dilemma which causes them to all charge the same price for PlayStation 4 game systems. B) pricing PlayStation 4 game systems is a repeated game. Over a long period of time a cooperative equilibrium has been reached where retailers charge high prices for these systems. C) retailers are all price takers. D) retailers have lobbied state governments to allow them to collude legally to set the prices of certain products.
Unemployment caused by people voluntarily quitting work in order to seek more attractive employment is
a. the natural rate of unemployment b. not considered part of the unemployment c. cyclical unemployment d. frictional unemployment e. structural unemployment