Which graph in the above figure represents the isoquants where, as the amount of labor used increases and the amount of capital used decreases, the marginal product of labor rises
(units of capital per day is on the vertical axis and units of labor per day is on the horizontal axis)?
A) Graph A
B) Graph B
C) Graph C
D) Graph D
D
Economics
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Which of the following statistics is the best single measure of overall economic activity?
A) The labor force participation rate. B) The inflation rate. C) GDP. D) The trade surplus.
Economics
Assume that a VER (voluntary export restraint) is imposed on an imported product. The difference between the domestic price and the world price is captured by:
A. The government B. Foreign exporters C. Domestic consumers D. Domestic workers
Economics