The value of the marginal product is the:
A. marginal product generated by an additional unit of input times the price of output.
B. additional inputs required to produce one more additional unit of output.
C. marginal revenue generated by an additional unit of output times the number of workers hired.
D. average revenue generated by workers at a firm.
Answer: A
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If inflation in the United States is higher than in Japan, what will happen to the exchange rate between the U.S. dollar and the Japanese yen?
a. The dollar and yen will both depreciate. b. The dollar and yen will both appreciate. c. The dollar will depreciate and the yen will appreciate. d. The dollar will appreciate and the yen will depreciate.
Airline knows from exp. Vacation travel has elastic demand for travel whereas business travels have an inelastic demand for travel in order maximizes the airline should?
A. Offer everyone a discount to increase sales. B. Increase price to everyone. C. Try to increase price for vacation travelers and decrease price for business travelers. D. Try to decrease price for vacation travelers and increase price for business travelers. E. Ignore this information.
From 2001 to 2004, the U.S. government went from a budget surplus to a budget deficit. According to the open-economy macroeconomic model, this should have decreased
a. both the supply of loanable funds and the supply of dollars in the market for foreign-currency exchange. b. neither the supply of loanable funds nor the supply of dollars in the market for foreign-currency exchange. c. the supply of loanable funds but not the supply of dollars in the market for foreign-currency exchange. d. the supply of dollars in the market for foreign-currency exchange, but not the supply of loanable funds.
Cars produced by General Motors in Mexico would be included in U.S. Gross domestic product.
Answer the following statement true (T) or false (F)