Jill runs a factory that makes lie detectors in Little Rock, Arkansas. This month, Jill's 34 workers produced 690 machines. Suppose Jill adds one more worker and, as a result, her factory's output increases to 700 Jill's marginal product of labor from the last worker hired equals ________.
A) 10
B) 20
C) 690
D) 700
E) None of the above answers is correct.
A
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The total consumption expenditure in Polonia during a certain year was $135,000, total expenditure on investment was $44,000 and total expenditure incurred by the government was $50,000
Polonia exported goods worth $10,000 during that year and imported goods and services worth $12,000. Calculate the gross national product of Polonia if foreign factors of production added a value of $14,000 in the production of goods and services in Polonia while Polonian workers living abroad added a value of $8,000 to the production process in those countries.
What was the approximate value of the U.S. current account balance in 2011?
A) +$10 billion B) +$79 billion C) -$380 billion D) -$475 billion
If the labor supply curve is upward-sloping, an adverse supply shock causes ________ in employment and ________ in the real wage
A) no change, a decrease B) a decrease, a decrease C) a decrease, no change D) a decrease, an increase E) an increase, an increase
Which of the following is not correct?
a. Some economists believe that business owners who emphasize profit maximization will hire the most productive workers regardless of the personal characteristics of the worker; hence, these firms will drive discriminating firms out of business. b. Two economists found that employers in Boston and Chicago were about 50 percent more likely to interview job applicants named Emily and Greg than those named Lakisha and Jamal. c. Two economists found that women were less likely to participate in an experiment where they were paid based on math skills but more likely to participate when they were paid based on reading skills; men were more likely to participate when they were paid based on math skills and less likely to participate when they were paid based on reading skills. d. Economists found that the prices of older baseball cards were about 10 percent lower when the player was black rather than white.