Author Question: Which of the following can be concluded about the long-run performance of the U.S. economy? a. It ... (Read 26 times)

a0266361136 · **on:** Jun 30, 2018

Which of the following can be concluded about the long-run performance of the U.S. economy?
a. It has been able to create employment opportunities but only at the cost of high inflation.
b. It has failed to generate sufficient aggregate demand in the economy.
c. It has been one of the most productive economies in the world in terms of growth in real GDP.
d. It has focused fiscal policies mostly at improving aggregate supply.
e. It has suffered from huge fiscal deficits that dampened economic growth.

Question 2

Alan Jones owns a company that sells life insurance. When he employs 10 salespersons his firm sells 200,000 worth of contracts per week, and when he employs 11 salespersons, total revenue is 210,000 . The marginal revenue product of the 11th salesperson is:
a. 410,000.
b. 10,000.
c. 20,000.
d. 210,000.