Refer to the data. Diminishing returns begin to occur with the hiring of the _________ unit of labor





Use the following data to answer the question:



A. first

B. second

C. third

D. seventh


Answer: v

Economics

You might also like to view...

The long-run industry supply curve in perfect competition is derived from the

A. short-run industry supply curve which shifts as new firms enter the industry. B. short-run industry supply curve which shifts as old firms exit the industry. C. freedom of firms from sunk costs so that new cost curves become long-run curves. D. All of the reasons listed.

Economics

Use the following table for a hypothetical single-product economy. year units of output price per unit price index (1=100) 1 10 10 100 2 12 20 200 3 15 30 300 4 20 40 400 Refer to the above data. Nominal GDP in year 4 is:

a) $320. b) $450. c) $225. d) $800.

Economics

If planned aggregate expenditure (PAE ) in an economy equals 3,000 + 0.75Y and potential output (Y*) equals 12,000, then this economy has:

A. no output gap. B. no autonomous expenditure. C. an expansionary gap. D. a recessionary gap.

Economics

Globalization that allows governments to pursue expansionary policies can be dangerous because it can lead to:

A. asset price inflation. B. goods price deflation. C. a reduction in the debt ceiling. D. goods price inflation.

Economics