The marginal product of the fourth worker is

Refer to Table 12.1. Assuming the inflation rate forecast to be accurate, which nation would pay the highest nominal rate of return?

A) Brazil B) South Africa C) Australia D) the United States

Which of the following is TRUE about the effects of an excise tax if consumers are totally unresponsive to price changes?

A) Consumers pay all of the excise tax. B) Producers pay all of the excise tax. C) Consumers and producers share the excise tax equally. D) Neither consumers nor producers pay the excise tax.