The figure above shows the relationship between the time a student spends studying and the student's GPA that semester. The slope of the relationship at point A equals
A) 3.
B) 3/20.
C) 2/20.
D) 1/20.
E) 0.
D
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Which of the following is an example of a public good?
A) a lighthouse B) a box of cookies C) any kind of public transportation D) the subway
A local restaurant offers an "all you can eat" barbeque special. You pay $9.00, and then you can eat as many servings as you desire at no additional cost. It would follow that you will stop eating when
a. your marginal utility (or value) derived from eating another serving is zero. b. your total utility (or value) derived from all of the servings consumed just equals $9.00. c. your marginal utility (or value) derived from another serving equals $9.00. d. it is physically impossible for you to eat any more.
Which of the following is the primary source of cross-country differences in the real earnings of workers?
a. differences in natural resource endowments b. differences in output per worker c. differences in the average number of hours worked d. differences in the share of workers that are members of a labor union e. access to modern technology
For a short-run production function in which output is determined by the number of workers utilized (capital stock held constant), which of the following is FALSE?
A. To determine the marginal product of labor, the capital stock must be held constant. B. When the marginal product of labor is negative, total product is falling. C. When diminishing returns set in, adding one more worker decreases output. D. In general, when there are few workers the marginal product of labor will be increasing. E. none of the above