Most migrants move from developing to developed nations
Indicate whether the statement is true or false
TRUE
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The production function Y = AK?L1-? exhibits
a. constant returns to scale. b. diminishing marginal returns to scale. c. increasing returns to scale. d. decreasing returns to scale. e. both a and b.
Banking failures result when
(a) banks do not hold 100 percent of their customers' deposits in their vaults. (b) banks make loans. (c) bank withdrawals exceed their reserves. (d) all of the above occur.
If high-level executives of a company award themselves sizable bonuses even though the firm they manage is making losses and performing poorly, this event is most likely to arise because of
a. the law of diminishing marginal returns. b. competition among business firms for high-level executives. c. economies of scale. d. the principal-agent problem.
When a price ceiling which had been set below equilibrium price is removed, what happens next?
A. quantity supplied rises. B. quantity demanded falls. C. price rises. D. all of the choices.