The law of increasing costs indicates that the opportunity cost of producing a good:
A. is proportional to the production of the good.
B. is constant to the production of the good.
C. increases as more of the good is produced.
D. decreases as more of the good is produced.
Answer: C
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During the 1990s, many companies shifted from
A. the Mform to product-oriented organizations. B. the Mform to functional subunits. C. product-oriented organizations to functional subunits. D. functional subunits toward more product-oriented organizations.
Compute the value of the simple spending multiplier if the marginal propensity to consume (MPC) is 0.80
a. 8 b. 5 c. 2 d. 0.80
Which of the following would be officially classified as unemployed?
What will be an ideal response?
From a consumer's viewpoint, which of the following policies would be least desirable?
A. Quotas on imported goods. B. Tariffs on imported goods. C. No trade. D. Free trade.