Refer to the Table Shown A)2
B)8

question 152

Multiple Choice

Refer to the table shown. The marginal product of the third worker is:

$\begin{array}{|c|c|}\hline \text { Number of workers } & \text { Marginal product of workers } \\\hline 1 & 2 \\\hline 2 & 5 \\\hline 3 & 9 \\\hline 4 & 14 \\\hline 5 & 16 \\\hline 6 & 17 \\\hline 7 & 18 \\\hline 8 & 18 \\\hline 9 & 17 \\\hline 10 & 15 \\\hline\end{array}$

• A)2.
• B)8.
• C)9.
• D)17.

Identify the phases of the business cycle, including peak, trough, recovery, and recession.

Distinguish between different types of unemployment (frictional, structural, cyclical).

Learn how the Consumer Price Index (CPI) is calculated and its importance in measuring inflation.

Recognize how inflation affects purchasing power and the real value of money.

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Definitions:

Operating Assets

Assets used in the day-to-day operations of a business, such as machinery, buildings, and equipment, that contribute to revenue generation.

Operating Costs

The expenses associated with the operation of a business, excluding costs associated with production.

Working Capital

The difference between a company’s current assets and current liabilities, indicating its short-term financial health and operational efficiency.

Net Present Value

A calculation used to assess the profitability of an investment, considering the present value of its future cash flows minus the initial investment.