The elasticity of output with respect to capital
A) is the increase in output resulting from an increase in the capital stock.
B) is the percentage increase in output resulting from a 1 % increase in the capital stock.
C) is always greater than one.
D) is the inverse of the elasticity of output with respect to labor.
B
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Total cost is calculated as
a. average fixed cost plus average variable cost b. fixed cost plus variable cost c. the additional cost of the last unit produced d. marginal cost plus variable cost e. marginal cost plus fixed cost
Horizontal equity can be determined by comparing the
A. Marginal tax rate of the taxpayer with the highest nominal income to the marginal tax rates of taxpayers with lower nominal incomes. B. Marginal tax rates for two taxpayers with the same nominal incomes. C. Effective tax rate of the taxpayer with the highest nominal income to the effective tax rates of taxpayers with lower nominal incomes. D. Effective tax rates for two taxpayers with the same nominal incomes.
Inventory investment can be:
A. zero only. B. negative, zero, or positive. C. negative only. D. positive only.
What has income per person done during the past 200 years?
What will be an ideal response?