The table above gives a firm's total product schedule. Suppose labor is the only variable factor of production. The price of labor is $500 per week and total fixed costs are $600 per week. What is the marginal cost of producing the 90th unit?
A) $10.00
B) $24.92
C) $31.61
D) $50.00
D
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Secondary reserves are
A. very short-term U.S. government securities. B. vault cash. C. deposits at the Federal Reserve District Bank. D. excess reserves.
The _____ is the overall economic effect of government spending increases.
A. spending effect B. multiplier effect C. fiscal effect D. incentive effect
The value of the market to society is
A. the area under the demand curve from the origin to the quantity purchased. B. the area under the demand curve but above the price line from the origin to the quantity purchased. C. the area under the supply curve from the origin to the quantity produced. D. the area under the demand curve but above the supply curve from the origin to the quantity purchased.
Industrial production is an example of a:
A) leading indicator. B) coincident indicator. C) lagging indicator. D) none of the above.