The marginal product of labour equals the change in ________ from a one-unit increase in the quantity of labour.

Select one:

A.the slope of the average product curve

B.the wage rate

C.total product

D.total cost

E.average product

If real GDP was $13.1 trillion in 2014 and $13.3 trillion in 2015, what is the growth rate?

Select one:

A.2.1 per cent

B.15.0 per cent

C.-1.5 per cent

D.1.5 per cent

E.$0.2 trillion

The concepts of mutual interdependence and game theory illustrate the fact that firms competing in oligopoly:

Select one:

A.consider the actions of their rivals before changing the price of their product.

B.never change prices.

C.engage in frequent price changes.

D.ignore the actions of their rivals when considering price changes.

E.will mutually determine the combined best outcome for all players.

Other things remaining the same, the ________ a government's credit rating, the ________ is the interest it faces.

Select one:

A.lower; higher

B.higher; higher

C.lower; smaller

D.smaller; lower

E.lower; lower

During 2014, a country reports that its price level fell and the money wage rate did not change. These changes led to:

Select one:

A.no change in the real wage rate and an increase in aggregate demand.

B.a lower real wage rate, lower profits, and a decrease in the quantity of real GDP supplied.

C.a higher real wage rate, higher profits, and an increase in the quantity of real GDP supplied.

D.a higher real wage rate, lower profits, and a decrease in the quantity of real GDP supplied.

E.a lower real wage rate, higher profits, and an increase in the quantity of real GDP supplied.