Refer to the table shown. The marginal product of the sixth worker is:Number of workersTotal output142103184285356417458489501049
A. 6.
B. 7.
C. 8.
D. 9.
Answer: A
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When a U.S. company shifts some of its production to Mexico, it is engaging in
A) involuntary exchange. B) outsourcing. C) insourcing. D) self-sufficiency.
What function is money serving when you deposit money in a savings account?
A. A store of value B. A unit of account C. A checkable deposit D. A medium of exchange
The movement of workers from lower productivity jobs to higher productivity jobs would be an example of a(n):
A. Technological advance B. Network effects C. Simultaneous consumption D. Improved resource allocation
Tariffs ________ prices for domestic consumers and import quotas ________ prices for domestic consumers
A) lower; raise B) raise; also raise C) raise; lower D) lower; also lower