The table above shows the total product schedule for Rick's Lawn Service, a yard care company. The average product of labor ________ when the 7th worker is hired
A) reaches its maximum
B) equals 1 lawn mowed
C) equals 28 lawns mowed
D) equals 4 lawns mowed
E) equals 2 lawns mowed
D
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
National debt decreases in a given year when a country has
A) a budget deficit. B) a balanced budget. C) a budget supplement. D) a budget surplus. E) no discretionary fiscal policy.
Refer to Figure 14-8 Use the decision tree to determine whether Microsoft should deter Toshiba from entering the market for electronic book readers (e-readers). Assume that each firm must earn a 20% return on investment to break even
Explain Microsoft's decision process.
The aggregate demand curve is downward sloping because a higher inflation rate leads the central bank to raise ________ interest rates, thereby ________ the level of equilibrium aggregate output., everything else held constant
A) real; lowering B) real; raising C) nominal; lowering D) nominal; raising