Refer to Scenario 14.2. What is the marginal revenue product of the 4th worker?
A) 20
B) 25
C) 30
D) 32.5
E) 35
B
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Demand applies to which of the following?
A. labor market B. fast food C. education D. all of these
Which of the following is correct?
A. Current account surplus + capital account surplus = 1 B. Current account surplus ? capital account surplus = 0 C. Current account surplus + capital account surplus = 0 D. Current account surplus ? capital account surplus = 1
A firm's demand for labor is referred to as a derived demand because
A. The quantity of goods and services labor can purchase is derived from the wages labor receives from the firm. B. It is derived from the supply of labor. C. It is derived from the MPP of labor. D. It is derived from the demand for the product that the labor is producing.
Which of the following describes world trade since 1950?
a. Tariffs have fallen, and trade has grown twice as fast as world output. b. Tariffs on goods have risen from 9% in 1950 to an average of 26%. c. Overregulation and rising tariffs have reduced world trade since 1950. d. Trade agreements have limited many trading partners to their own region.