Refer to the above table. If the price of the good produced is $10 and the wage rate is $500, then the marginal revenue product of the 5th worker is
A) $10.
B) $50.
C) $750.
D) $4,750.
C
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Answer the following statement(s) true (T) or false (F)
1. Runoff from urban streets is an example of nonpoint source pollution. 2. Since acidic deposition arises around the world, it is considered to be global pollution. 3. The warmer temperatures in the Gulf of Mexico may have increased the magnitude and extent of the damages linked to the Gulf oil spill in 2010. 4. When scientists first identified the ‘ozone hole’ over the Antarctic region in the 1980s, it was less than 10 miles in diameter. 5. Concern for managing natural resources to ensure their quality and abundance for future generations is called sustainable development.
Refer to the above table. What is the absolute price elasticity of demand when a price rises from $8 to $8.50?
A) 5.15 B) 1.94 C) 0.515 D) 0.194
Why do financial intermediaries aid in the efficient operation of the economy?
a. Without them it would be difficult for small savers to lend to large borrowers. b. They lend funds to businesses at a zero interest rate. c. They print currency. d. They regulate the money supply. e. They engage in open market operations.
Bond prices and interest rates:
a. are interrelated b. have no relationship to one another c. rise or fall in tandem d. none of these choices