Diminishing returns, so that each additional hour of labor employed produces successively smaller additional amounts of real GDP, exist because
A) additional workers are paid higher wage rates.
B) labor is not very productive.
C) extra labor produces more output.
D) all other factors are held fixed.
E) the price level rises as more workers are employed.
D
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A monopolistically competitive firm can increase its economic profit by ________
A) developing new products B) producing at the efficient quantity C) eliminating excess capacity D) advertising less
Which of the following is not considered part of M2?
a. Small time deposits of less than $100,000. b. Money market mutual fund shares. c. Savings deposits. d. Large time deposits of more than $100,000.
The U.S. Postal Service enjoys a monopoly position because of patent rights
a. True b. False Indicate whether the statement is true or false
The largest item of government expenditure is...
What will be an ideal response?What will be an ideal response?