The marginal benefit of a worker to a firm is the value of the extra output that results when
A) work is outsourced to a foreign country.
B) workers get paid for working overtime.
C) some workers are laid off and the remaining workers become more productive.
D) an additional worker is hired.
D
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Arthur sells $100 worth of cotton to Bob. Bob turns the cotton into cloth, which he sells to Camille for $300. Camille uses the cloth to make prom dresses that she sells to Donita for $700. Donita sells the dresses for $1,200 to kids attending the prom
The total contribution to GDP of this series of transactions is: A. $1,200. B. $500. C. $2,300. D. $1,100.
Which of the following circumstances would cause current GDP to overstate economic well-being in comparison to 60 years ago?
A. An increase in the total output per person B. An increase in military expenditures C. An increase in welfare payments D. The trend toward a shorter work week