A production function may exhibit
a. constant returns to scale and diminishing marginal productivities to all inputs.
b. constant returns to scale and diminishing marginal productivities to all but one input, but at least one input must have a constant marginal productivity.
c. constant returns to scale and diminishing marginal productivity to at most one input.
d. constant returns to scale and diminishing marginal productivities for no inputs.
a
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Purchasing power parity means equal rates of return
Indicate whether the statement is true or false
The National Bank Act of 1863, and subsequent amendments to it
A) created a banking system of state-chartered banks. B) established the Office of the Comptroller of the Currency. C) broadened the regulatory powers of the Federal Reserve. D) created insurance on deposit accounts.
The primary reason unionization in the United States has been declining is the shift of the U.S. labor force into service industries and out of manufacturing
a. True b. False Indicate whether the statement is true or false
If the interest rate is 10%, the present value of $100 to be paid in two years is
A. $80. B. $121. C. $100/1.12. D. $100/1.1.