If the U.S. government decided to pay off the national debt by creating money, what would be the most likely effect?
a. a substantial reduction in real GDP
b. a deflationary collapse
c. rapid inflation
d. an increase in the trade surplus
C
Economics
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Using the above table, when Jefferson's Cleaners hires three workers
A) the average product of labor is greater than the marginal product. B) the marginal product of labor is greater than the average product. C) it has already experienced diminishing marginal returns. D) Both answers A and C are correct.
Economics
Refer to Figure 2-13. What is the opportunity cost of producing 1 ton of pineapples in Costa Rica?
A) 3/8 of a ton of coconuts B) 2/3 of a ton of coconuts C) 1 1/2 tons of coconuts D) 100 tons of coconuts
Economics