A marginal revenue product curve shows the change in
a. total revenue caused by a one-unit change in output, other things constant
b. total revenue caused by a one-unit change in an input, other things constant
c. total product caused by a one-unit change in output, other things constant
d. total product caused by a one-unit change in an input, other things constant
e. total revenue product caused by a one-unit change in the price of the output, other things constant
Question 2
Which of the following events would not be recorded in the U.S. balance of payments?
a. The money supply of a foreign nation increases.
b. Oxfam America, a U.S. relief agency, sends food to drought victims in sub-Saharan Africa.
c. Oxfam America, a U.S. relief agency, sends farm equipment to drought victims in sub-Saharan Africa.
d. The Pentagon stations troops in Saudi Arabia.
e. Pepsi-Cola sends its soft drink to Russia; in return, the United States gets Stolichnaya vodka. No money changes hands.
A sigmoid (cooperative) binding curve
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