The above table has the total product schedule for Joe's Barber Shop. Joe charges $6 per haircut. The firm's value of marginal product of labor for the third worker is equal to
A) $264.
B) $48.
C) $8.
D) $6.
B
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Which of the following statements is correct?
A) The price level does not affect the level of real GDP demanded. B) The lower the price level, the more the aggregate demand curve shifts rightward. C) The lower the price level, the greater the quantity of real GDP demanded. D) The higher the price level, the more the aggregate demand curve shifts rightward. E) The lower the price level, the more the aggregate demand curve shifts leftward.
Internationally, the TRIPS agreement is uniformly regarded as a positive step for world prosperity
Indicate whether the statement is true or false
Which of the following represents a transfer payment?
a. You transfer $1,000 from your bank account to a mutual fund. b. The government sends your grandfather his Social Security check. c. You make a payment to get legal documents showing you purchased a previously owned home. d. Your employer automatically transfers $100 each month from your wages to a non-taxable medical spending account.
By law, banks are required to __________.
A) hold 100 percent of customer deposits as reserves.
B) hold a fraction of demand deposits as reserves.
C) hold a fraction of their reserves at the Federal Reserve bank.
D) lend out no more than the amount of their required reserves.