Kenya owns a lawn mowing company. His total product schedule is in the above table. The marginal product of the fourth worker is ________ lawns mowed per week
A) 80
B) 25
C) 20
D) 5
E) 320
D
Economics
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The ratio of the increase in ________ to the increase in ________ is called the multiplier
A) induced expenditure; equilibrium real GDP B) autonomous expenditure; equilibrium real GDP C) equilibrium nominal GDP; autonomous expenditure D) equilibrium real GDP; autonomous expenditure
Economics
The administrative, enforcement, and compliance costs of collecting taxes in the United States sum to
a. between 1 and 2 percent of the revenues collected. b. between 5 and 6 percent of the revenues collected. c. between 12 and 15 percent of the revenues collected. d. more than half of the revenues collected.
Economics