A supply factor in economic growth would be:
A. an increase in consumption spending.
B. a rise in the rate of resource depletion.
C. an increase in the quantity of labor.
D. a fall in the efficient use of resources.
Answer: C
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Tom and Mary own a perfectly competitive tomato farm. They can hire different numbers of college students to help plant, cultivate, and harvest the tomatoes. The above table gives their marginal product schedule
a) If the price of a pound of tomatoes is $2 a pound, complete the first value of marginal product column in the table. If Tom and Mary must pay their workers $10 an hour, how many workers do they hire? b) If the price of a pound of tomatoes falls to $1 a pound, complete the second value of marginal product column in the table. If Tom and Mary still must pay their workers $10 an hour, how many workers do they hire? c) When the price of a pound of tomatoes falls, what happens to Tom and Mary's demand for labor curve?
Provide some examples of industries near your school that operate in monopolistic competition (excluding those given on the text page in the figure)
What will be an ideal response?
In the graph for the consumption function, the 45-degree line
A) contains only a consumption component.
B) represents both planned consumption and planned investment.
C) shows various combinations where planned consumption equals real disposable income.
D) reflects a decreasing APC as real disposable income rises.
Which of the following would be classified as precautionary demand for money?
A. You keep a $1,000 in a money market account because the return is better than a savings account at your bank B. You put $1,000 in a savings account at your bank for emergencies C. You put $1,000 in your checking account each month to cover your regular expenses D. You apply for and receive a credit card with a $1,000 limit