The value of an additional baker to a bakery is equal to the
A) price of bread.
B) value of marginal product of the baker.
C) baker's marginal productivity in terms of loaves of bread.
D) marginal cost of making an additional loaf of bread.
B
Economics
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What is the difference between actual investment (as defined in GDP) and planned investment?
a. Planned investment does not include unplanned inventory changes; actual investment does. b. There is no difference; they are the same. c. Planned investment does not include depreciation; actual investment does. d. Planned investment includes inventories; actual investment does not. e. Planned investment includes depreciation; actual investment does not.
Economics
Assume that Sweden will specialize in either boats or cars. What is their opportunity cost of producing three cars?
Economics