Using the data in the above table, what is the average product of three employees?
A) 2 pizzas per hour
B) 3 pizzas per hour
C) 4 pizzas per hour
D) 12 pizzas per hour
C
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The "law of demand" indicates that if the University of Maine increases tuition, all other things remaining the same,
A) the demand for classes will decrease at the University of Maine. B) the demand for classes will increase at the University of Maine. C) the quantity of classes demanded will increase at the University of Maine. D) the quantity of classes demanded will decrease at the University of Maine. E) both the demand for and the quantity of classes demanded will decrease at the University of Maine.
A good generalization about developing countries is
a. savings rates are low b. investment rates are low c. exports are mostly food and raw materials d. population growth rates are high e. none of the above