This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose we have the following information about a car manufacturer: car sales 1000M, steal purchases ... (Read 72 times)

savannahhooper

  • Hero Member
  • *****
  • Posts: 576
on: Jun 30, 2018
Suppose we have the following information about a car manufacturer: car sales 1000M, steal purchases 600M, wages 300M, interest on business loans 50M, and profits 50M. What is its contribution to GDP using the product approach?
 
  A) 1000M
  B) 600M
  C) 400M
  D) 350M

Question 2

What do we learn from the shape of the Cobb-Douglas production function?
 
  A) its slope remains constant as labor input increases
  B) the marginal product of labor declines as the labor input falls
  C) there are diminishing returns to labor
  D) all of the above
  E) none of the above


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Meganchabluk

  • Sr. Member
  • ****
  • Posts: 301
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

C


savannahhooper

  • Hero Member
  • *****
  • Posts: 576
Reply #2 on: Jun 30, 2018
Thank you :)


Meganchabluk

  • Sr. Member
  • ****
  • Posts: 301
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Information Processing Model The components of the model operate simultaneously. Information Processing Model The components of the model operate simultaneously.
A typical calibration code sticker on the case of a controller. The information on the sticker is ... A typical calibration code sticker on the case of a controller. The information on the sticker is ...
The CHRIS manual entry for toluene. Useful information includes response information, chemical and ... The CHRIS manual entry for toluene. Useful information includes response information, chemical and ...
Flowchart illustrating how genetic information encoded in DNA produces protein Flowchart illustrating how genetic information encoded in DNA produces protein
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
Accounting Information Systems, 4th Edition Accounting Information Systems, 4th Edition
Video: Carbohydrate digestion (brush border enzymes, end products) & Carb absorption (fructose, galactose)

For a complete list of videos, visit our video library