Refer to Table 21.3 below:Table 21.3Units of LaborUnits of OutputMPP00 1 30266 3 304116 How many units of output can be produced when one unit of labor is employed in Table 21.3?
A. 36.
B. 66.
C. 30.
D. 0.
Answer: C
You might also like to view...
Monopolistic competition is characterized by excess capacity because
A. firms charge a price that is greater than marginal cost. B. firms produce at an output level less than the least-cost output. C. firms are always profitable in the long run. D. the demand for a product is perfectly elastic in this type of industry.
Explain the three reasons the aggregate demand curve slopes downward
What will be an ideal response?
If we were to pay everyone exactly the same income
A) there would be a large amount of economic growth. B) there would be no incentive to invest in human capital. C) more people would seek an education. D) productivity would increase.
An increase in the money supply
a. raises the interest rate, causing an increase in quantity demanded of investment and an increase in GDP b. lowers the interest rate, causing an increase in quantity demanded of investment and an increase in GDP c. raises the interest rate, causing a decrease in quantity demanded of investment and an increase in GDP d. lowers the interest rate, causing a decrease in quantity demanded of investment and an increase in GDP e. lowers the interest rate, causing a decrease in quantity demanded of investment and a decrease in GDP