An expansion occurs when ________, when ________, or when both of these occur.
A. potential output grows rapidly; actual output rises above potential output.
B. potential output grows slowly; actual output equals potential output
C. potential output grows slowly; actual output rises above potential output
D. potential output grows rapidly; actual output equals potential output
Answer: A
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A purely competitive firm is faced with a marginal revenue curve that lies everywhere below the average variable cost curve. Would this firm be able to operate in the short run? Explain
What will be an ideal response?
If marginal product increases with an increase in the variable input, the marginal cost must also increase as more units of the input are hired
a. True b. False Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. Municipal solid waste includes nonhazardous and hazardous wastes disposed of in local communities. 2. According to available U.S. trend data, the number of landfills in the country has been increasing since 1960. 3. In the United States, the composition of MSW is categorized both by materials and by products. 4. The highest proportion of products in the MSW stream is consumer electronics. 5. One of the fastest growing segments of the MSW stream is plastics.
In the signaling theory of education,
a. schooling itself does not lead to more productive workers. b. chance plays more of a role than in the human-capital theory. c. schooling enhances worker productivity. d. compensating differentials do not matter.