Which of the following is more of a short-run than a long-run goal?
a. Increasing the capital stock
b. Encouraging investment in human capital
c. Moderating economic fluctuations
d. Stimulating economic growth
e. Increasing private investment
C
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Which of the following experiments will yield observations that would allow one to calculate the marginal physical product of labor?
A. Increase the number of lumberjacks with chain saws and observe the change in output of cut trees B. Increase the number of workers on an assembly line and record the change in output C. Increase the number of data entry operators and computers and calculate the extra output. D. Check the number of workers before and after a given time period.
Total income in an economy is equal to
A) the sum of wages, interest, rent, and profit. B) firm revenues. C) GDP minus net exports. D) income minus taxes.
If a price is above equilibrium,
A. A shortage will cause the price to rise and the quantity supplied to increase. B. A surplus will cause the price to fall and the quantity supplied to increase. C. A surplus will cause the price to fall and the quantity supplied to decrease. D. A shortage will cause the price to fall and the quantity supplied to decrease.
Refer to the information provided in Figure 7.2 below to answer the question(s) that follow. 
Figure 7.2Refer to Figure 7.2. The average product with two workers is ________ lawns mowed.
A. 4 B. 5 C. 5.5 D. 11