Suppose the government cuts taxes. We would expect interest rates to ________ and the dollar to ________ in foreign exchange markets

Look at the production schedule of the Widget Company below:

Number of workers 0 1 2 3 4 5 Number of widgets 0 12 22 30 36 40 What is the marginal product of the second worker? A) 8 B) 10 C) 12 D) 22

If the income elasticity of demand of houses is exactly 1.40 . Due to a recession, you expect incomes to drop by 25% next year. How will consumers adjust their purchase for houses?

a. Buy 35% more houses b. Buy 35% less houses c. Buy 25% more houses d. Buy 25% less houses