Frictional, structural and cyclical unemployment are three classifications of unemployment

Suppose that the production function for the economy is: Y = AK1/4L3/4. Assume that A = 1,000, the capital stock is $32,000 billion, and the labor force is 120 million (or 0.120 billion) workers. The value of the marginal product of labor is

A) $14,290.17. B) $17,043.29. C) $20,451.95. D) $22,724.33.

The hypothesis that changes in the money supply lead to proportional changes in the price level is called

A) the equation of exchange. B) the Keynesian multiplier. C) the theory of empirical relativity. D) the quantity theory of money and prices.