Cattle served as money, first for the Romans, then for the Greeks
Indicate whether the statement is true or false
false
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One way to attain a faster rate of economic growth would be to shift some resources from the production of _________ goods to the production of __________ goods.
Fill in the blank(s) with the appropriate word(s).
Recently the largest form of international investment funds for developing countries has been
A) foreign direct investments. B) World Bank loans. C) portfolio investments. D) bank loans.
If a farmer produces 1000 bushels of corn using ten acres of land and one tractor and is able to produce 2000 bushels of corn using twenty acres of land and one tractor, the farmer has
A) increasing returns to scale. B) constant returns to scale. C) decreasing returns to scale. D) no returns to scale.
The difference between short-run and long-run cost is that in the long run,
a. there are shortages of labor that can restrict output b. only labor can be changed to increase or decrease production c. fixed factors of production have already been chosen d. there are no diseconomies of scale e. all factors of production are variable