LSC CUMBERLAND EC202 MICRO>PKG<
21st Edition
ISBN: 9781260586992
Author: McConnell
Publisher: MCG
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Chapter 19, Problem 9DQ
To determine
User cost.
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2. Suppose that the table below shows an economy's relationship
between real output and the inputs needed to produce that output:
LO4
Input
Quantity
Real
GDP
150.0
$400
112.5
300
75.0
200
a. What is productivity in this economy?
b. What is the per-unit cost of production if the price of each input
unit is $2?
c. Assume that the input price increases from $2 to $3 with no
accompanying change in productivity. What is the new per-unit cost
of production? In what direction would the $1 increase in input price
push the economy's aggregate supply curve? What effect would this
shift of aggregate supply have on the price level and the level of real
output?
d. Suppose that the increase in input price does not occur but,
instead, that productivity increases by 100 percent. What would be
the new per-unit cost of production? What effect would this change
in per-unit production cost have on the economy's aggregate supply
curve? What effect would this shift of aggregate supply have on the
price…
D Question 26
A corporation issues a bond with a par value of $4,800 in one year. Assume that the bond is sold
today for $4,500. What is the interest rate received by the lender?
O 3.33%
O 11.11%
O 6.67%
6.25%
D
Question 27
The U6 unemployment rate includes which individuals that are not included in the U3
unemployment rate?
O government employees
O people who volunteer
O self-employed individuals
O people who are working part-time but want full-time work
O members of the population that are under the age of 16
acroeconómic Policy and Natural Resources (10)|| Sp
Time left 1:23:57
estion
When a par ar firm is fully utilizing its capital, its output is given by Y = 10 × LO5. The cost of labour is OMR1 per
unit. To maximize profit, how many units of labour should this firm use?
wer saved
-ked out of
Flag
O a. 50
estion
O b. 100
О с. 5
O d. 25
O e. 3.16
CLEAR MY CHOICE
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