Refer to Figure 17-1. If Dale can sell her doilies at $2 each, what is the marginal product of the 5th worker?

Suppose somebody made the following statement: "There will never be a substitute for Howard Stern, the radio shock-jock." According to the economic way of thinking, the above statement

A) is essentially true. B) is misleading because cloning already exists and it is a matter of time before people will be cloned. C) is incorrect because many people choose to listen to other programs as the perceived costs of listening to Howard Stern change. D) is essentially false because Howard Stern provides nothing of value to society.

According to Solow's exogenous growth theory, what happens to a country at steady state that suffered extensive capital destruction due to a war or climate event?

A) It will stay poor forever. B) It will grow back to be richer than before. C) It will get back to its original status. D) Anything can happen.