Refer to the above table. What is the marginal revenue product of the fifth worker?
A. $160
B. $400
C. -$800
D. $2
C. -$800
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Federal spending in nominal dollars (that is, dollars not adjusted for inflation) has grown by what multiple from 1960 to 2014?
a. 10 b. 23 c. 30 d. 38
Expansionary fiscal policy in response to a negative real shock:
A. will only increase real growth and inflation a little. B. might increase inflation a little but will increase real growth a lot. C. might increase real growth a little but will increase inflation a lot. D. will increase both real growth and inflation a lot
Exhibit 6-3 Marginal utility data for goods X and Y Units of good X Marginal utility ofgood X Units of good Y Marginal utility ofgood Y 1 20 1 14 2 16 2 12 3 12 3 10 4 8 4 8 5 4 5 6 As shown in Exhibit 6-3, assume that the price of good X is $1 per unit and the price of good Y is $2 per unit and your budget is $13. If you consume 4 units of good X and 2 units of good Y and maximize utility, you should consume:
A. neither X nor Y. B. more of X and less of Y. C. more of Y. D. more of both X and Y.
Which of the following statements is true?
A. Absolute advantage implies comparative advantage. B. Absolute advantage requires comparative advantage. C. Comparative advantage requires absolute advantage. D. Comparative advantage does not require absolute advantage.