-Using the Information in the Table Above, Net Exports Equals

question 349

Multiple Choice

-Using the information in the table above, net exports equals

• A) $1,370 billion.
• B) $650 billion.
• C) $20 billion.
• D) -$70 billion.

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Definitions:

Marginal Product

The extra output produced by using an additional unit of a particular production factor, while holding other factors steady.

Candy Bars

Confectionery items that consist of chocolate and other sweet ingredients, often with a filling or coating.

VMPL

The value of the marginal product of labor, which denotes the additional value generated by employing one more worker.

Labor

The human effort, whether physical or mental, used in the production of goods and services.