Suppose that one worker can produce 15 cookies, two workers can produce 35 cookies together, and three workers can produce 60 cookies together. What is the average product of the first three workers?
A. 25 cookies
B. 30 cookies
C. 20 cookies
D. 17.5 cookies
Answer: C
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The term "derived demand" refers to
A) a firm's estimated demand curve derived from sales data. B) the demand for a factor of production that is derived from the demand for the good the factor produces. C) the demand for financial products called derivatives. D) a demand curve that derives from the availability of resources.
Which of the following sets of categories correctly describes the categories of nonconsumption injections?
A) foreign imports, private domestic investment, government transfer payments B) capital consumption allowances, government transfer payments, net exports C) net exports, inventory accumulation, government transfer payments D) government purchases of goods and services, net exports, private domestic investment
The members of Federal Reserve district bank boards of directors who are leaders in industry, commerce, and agriculture are known as
A) Class A directors. B) Class B directors. C) Class C directors. D) Class D directors.
In a bank reconciliation, interest revenue earned on your bank balance is
a. added to the book balance b. deducted from the book balance c. added to the bank balance