The average product is calculated by dividing input by the number of hours worked.
Answer the following statement true (T) or false (F)
False
Average product is output divided by the number of hours worked or by the number of workers.
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Given the table above, the present value of lifetime resources ________ when the real interest rate rises to five percent
A) falls by $367 B) rises by $200 C) rises by $300 D) falls by $275
According to the above figure, a shortage will occur at a price at which
A) quantity demanded equals quantity supplied. B) quantity demanded exceeds quantity supplied. C) quantity supplied exceeds quantity demanded. D) government sets a price above equilibrium.
What are diseconomies of scope?
a. the cost of producing two products jointly by one firm is more than the cost of producing them separately b. the cost of producing two products jointly by one firm is lesser than the cost of producing them separately c. the cost of producing two products jointly by one firm is equal to the cost of producing them separately d. none of the above
Why were the low rates on adjustable-rate mortgages in the early 2000s considered to be teaser rates?
a. because they were very hard to qualify for b. because they were very easy to qualify for c. because they were likely to increase after a brief time d. because they were likely to decrease after a brief time