In the above table, what is average product when 4 workers are employed?
A) 12
B) 10
C) 11.5
D) 9.5
C
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The table above gives data for the nation of Mosh. If real GDP is $10 trillion, then
A) firms increase production because inventories are less than their target levels. B) firms decrease production because inventories exceed their target levels. C) the economy has reached equilibrium and no change in production will occur. D) firms decrease production because inventories are less than their target levels. E) We need more information to determine whether firms increase, decrease, or do not change their production.
Which of the following countries is among the top-five trading partners of the United States?
a. England b. China c. Russia d. India
Refer to the above figure. If flow (8) is revenues and flow (4) is economic resources (land, labor, capital, and entrepreneurial ability), then box:
A. A is the resource market and box B is the product market. B. C is the product market and box B is the resource market. C. B is the resource market and box A is the product market. D. D is the product market and box B is the resource market.
According to the above figure, a shortage is shown between which two points?
A. A and E B. C and B C. E and F D. A and B