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 73 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?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Four types of cellular responses to positional information in animals. Four types of cellular responses to positional information in animals.
Discharge summary information Discharge summary information
Websites that Provide Reliable Health Information Websites that Provide Reliable Health Information
The medical assistant reviews the PDR for information related to a drug. The medical assistant reviews the PDR for information related to a drug.
The material safety data sheet (MSDS) for sulfuric acid showing the detailed technical information ... The material safety data sheet (MSDS) for sulfuric acid showing the detailed technical information ...
Simplified diagram of information flow (the central dogma) from DNA to RNA Simplified diagram of information flow (the central dogma) from DNA to RNA
Video: Bone Healing Animation

For a complete list of videos, visit our video library