When 4 units of labor are employed, total product is 6 units; when 5 units of labor are employed, total product is 8 units of output. If the price of output is $5 per unit, what is the marginal revenue product of the 5th unit of labor?
A) $2
B) $5
C) $10
D) $40
Answer: C
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The clear winners from the quota are the ________, and the losers are the______. 
A. domestic producers; domestic consumers B. domestic consumers; domestic producers C. government; domestic consumers D. importers; domestic producers
Fogel (1964) showed that railroad construction after the Civil War dominated the markets for which of the following?
(a) Steel (b) Coal (c) Wood (d) None of the above
Which of the following is not included in Nation A's reserves account in the balance of payments?
a. Changes in official gold holdings. b. The stock official (i.e., central bank) holdings of foreign currencies. c. Increases in borrowing rights at the International Monetary Fund. d. All of the above are included in reserves.
Which would cause consumption to fall?
a. More income b. An increase in wealth c. Optimistic consumer expectations d. A decrease in wealth