The steeper the slope of the total product curve, the
A) larger is the marginal product of labor.
B) smaller is the marginal product of labor.
C) higher is the level of the total cost curve.
D) more efficient is the technology employed.
A
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________ increases the supply of dollars in the foreign exchange market
A) An increase in the exchange rate B) A decrease in the exchange rate C) A rise in the expected future exchange rate D) A fall in the interest rate in the U.S. relative to the interest rate in other countries E) A rise in the interest rate in the U.S. relative to the interest rate in other countries
Last year in a small economy, consumption spending was $12,000, investment spending was $3,500, government spending was $4, 000, exports were $1,150, and imports were $1,350. What was GDP for this economy last year?
What will be an ideal response?