When total product is rising:
A) marginal product is positive.
B) marginal product is zero.
C) marginal product is negative.
D) average product is decreasing.
Answer: A) marginal product is positive.
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Holding everything else constant, the U.S. real exchange with India will increase if the rupee depreciates
Indicate whether the statement is true or false
According to Scenario 4-1, country A has net exports of:
a. $18 million. b. $8 million. c. $13 million. d. $9 million. e. $6 million.
Like the monetarists, new classical economists favor
a. money growth aimed at achieving a nominal GDP target. b. discretionary policy action. c. a money growth rate that stabilizes output. d. a money growth rule that guides monetary policy.
If price decreases and demand is ________ then total revenue will decline
a. perfectly elastic b. inelastic c. unit elastic d. elastic