Refer to Figure 6.2. The situation pictured is one of
A) constant returns to scale, because the line through the origin is linear.
B) decreasing returns to scale, because the isoquants are convex.
C) decreasing returns to scale, because doubling inputs results in less than double the amount of output.
D) increasing returns to scale, because the isoquants are convex.
E) increasing returns to scale, because doubling inputs results in more than double the amount of output.
E
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An asset is said to be riskless if:
A) it can be easily converted into cash. B) its value does not change from day to day. C) its value is more likely to fall in future. D) it offers a positive rate of interest.
By how much did the Doha round of negotiations increase the world economy per year?
a. $100 to $150 billion b. $150 to $200 billion c. $200 to $250 billion d. $165 to $385 billion
The typical welfare family would be
A. A single woman with 6 or 8 children. B. A single woman with 1 or 2 children. C. A couple about 70-80 years old. D. A childless male in his 30s or 40s.
Modern Keynesians believe that fiscal stimulus raises interest rates, which eliminates an AD excess.
Answer the following statement true (T) or false (F)