Refer to the above table. What does the marginal physical product equal when the amount of labor goes from 12 to 13 units?
A. 7
B. 76
C. 69
D. 10
Answer: A
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Investors are often willing to take the risks associated with investing in capital goods in developing nations because developing nations
A) insure a small return on investment. B) always insure the investments. C) have a large portion of the world's unutilized or underutilized resources and hence profit potential. D) get the International Monetary Fund (IMF) to back investments through a series of loan guarantees.
If real GDP grows by 3 percent, the velocity of circulation does not change, and the quantity of money grows by 5 percent, then in the long run the inflation rate is
A) 8 percent. B) -5 percent. C) 2 percent. D) 3 percent. E) -2 percent.
If a city suddenly and unexpectedly abolishes all property taxes on residential property, which consequence is most likely to be observed first?
A) Higher rents for residential space B) Higher sale prices for residential property C) Lower rents for residential space D) Lower sale prices for residential property E) More conversion of apartments to condominiums
Equity holders are a corporation's ________. That means the corporation must pay all of its debt holders before it pays its equity holders
A) debtors B) brokers C) residual claimants D) underwriters