Which of the following sources of productivity is the most difficult to acquire?
A. experience
B. training
C. education
D. talent
Answer: D
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If a small plant is more efficient than either a medium-sized or a large plant, the situation must be one of
a. increasing returns to scale. b. decreasing returns to scale. c. constant returns to scale. d. None of these.
Which of the following is not a tool of monetary policy?
a. open market operations
b. reserve requirements
c. changing the discount rate
d. increasing the government budget deficit
Refer to the information provided in Table 31.2 below to answer the question(s) that follow.Table 31.2PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1 50 50 2002 50 60 2153 50 70 2254 50 80 230Refer to Table 31.2. When moving from Period 1 to Period 4, labor productivity
A. increases. B. decreases. C. does not change. D. first increases, then decreases.
Economists use the concept of ceteris paribus to examine a change in ____________ in a model, while assuming that all other variables remain constant.
Fill in the blank(s) with the appropriate word(s).