Marginal physical product is measured in terms of
a. added units of labor
b. added units of output
c. total output divided by total labor
d. total value of output
e. added dollars to the firm
B
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In the figure above, the DLF curve is the demand for loanable funds curve and the PDLF curve is the private demand for loanable funds curve
If there is no Ricardo-Barro effect, the figure shows the situation in which the government has a ________ so that the equilibrium real interest rate is ________ and the equilibrium quantity of investment is ________. A) budget deficit; 6 percent; $1.5 trillion B) balanced budget; 6 percent; $1.5 trillion C) budget surplus; 4 percent; $1 trillion D) budget surplus; 6 percent; $1.5 trillion E) budget deficit; 4 percent; $1 trillion
Mike has been unemployed for over a year. He hasn't looked for a job in the last three months, but he's just started looking for work again. Because Mike started looking for a new job,
A) the labor force participation rate decreased. B) the unemployment rate increased. C) the unemployment rate decreased. D) the working-age population increased.
If the marginal propensity to consume (MPC) decreases, then
A) the marginal propensity to save (MPS) decreases. B) the multiplier decreases. C) the multiplier increases. D) MPC + MPS is less than 1.
Brandon receives a marginal utility of 5, 4, 3, 2, 1, and 0 from eating successive donuts. Successive cups of coffee provide him with 9, 8, 6, 4, 3, and 2 utils of marginal utility. Donuts cost 50 cents each, coffee costs $1 per cup, and Brandon has $3 to spend. Which of the following options will yield Brandon the greatest utility?
a. six donuts b. four donuts and one cup of coffee c. two donuts and two cups of coffee d. four donuts and one cup of coffee