What is the economic definition of productivity?
What will be an ideal response?
Productivity is the real GDP of a country divided by the number of hours worked by all workers. The more productive an economy is, the more output it can produce with a given number of labor hours.
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Please use a figure to discuss whether or not a devaluation under a fixed exchange rate has the same long-run effect as a proportional increase in the money supply under a floating rate
What will be an ideal response?
The current deficit is
A) the deficit minus government investment. B) the deficit plus net interest payments. C) the deficit minus current expenditures. D) the deficit minus depreciation.
A firm's total variable cost increases from $4,000 to $4,020 as the firm increases its output from 400 to 401 units. What is the marginal cost of producing the 401st unit?
A. $20 B. $4,020 C. $4,000 D. $10
Which of the following is evidence of a surplus of bananas?
A) Firms raise the price of bananas. B) The price of bananas is lowered in order to increase sales. C) The equilibrium price of bananas rises due to an increase in demand. D) The quantity of bananas demanded is greater than the quantity supplied.