A tariff has the effect of
a. raising the price of the exported good
b. increasing the demand for the exported good
c. increasing the demand for the imported good
d. increasing the supply of the imported good
e. raising the price of the imported good
E
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The per-worker production function illustrates the fact that as the amount of capital per worker increases, output per worker: a. increases at an increasing rate
b. increases then decreases. c. decreases but at an increasing rate. d. decreases. e. increases but at a decreasing rate.
The unemployment rate measures the number of unemployed people expressed as a percentage of the total population
a. True b. False Indicate whether the statement is true or false
In a small economy in 2011, aggregate expenditure was $800 million while GDP that year was $850 million. the following can explain the difference between aggregate expenditure and GDP that year?
What will be an ideal response?
The above table depicts output from a firm that manufactures computers. The computers sell for $1,000 each. What is the marginal revenue product (MRP) for the fourteenth worker per week?
A. 80 units B. $70,000 C. $60,000 D. 90 units