When total product is increasing at an increasing rate, marginal product is
A. constant.
B. positive and increasing.
C. positive and decreasing.
D. negative.
Answer: B
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Tax paid on income from a rental property represents _____
a. a consumption tax b. double taxation c. progressive taxation d. estate taxation
A public good is described, in part, as a good
A. that may be depleted if demand is heavy. B. that has a marginal cost at or near zero. C. that is essential to life. D. which has all of these characteristics.
The profit-maximizing/loss-minimizing level of output
A. 100 units.
B. 140 units.
C. 160 units.
D. 200 units.
Refer to the graph below. If more people in Europe decide to purchase U.S. cars, what effect will this have on the market for euros?
Assume that U.S. and European governments adopt a system of flexible exchange rates, and the figure below shows the market for euros.
A. Demand will decrease
B. Demand will increase
C. Supply will increase
D. Supply will decrease