Between 1940 and 2000, income per person in China
A) doubled.
B) tripled.
C) quadrupled.
D) decreased by 5 percent.
C
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The law of diminishing marginal returns explains the general shape of the firm's
a. long-run cost curves. b. short-run cost curves. c. both short-run and long-run cost curves. d. The law of diminishing returns has nothing to do with cost curves.
Which of the following is an example of a financial intermediary?
A. Banks. B. The U.S. Treasury. C. The S&P 500. D. The department of finance.
Which is the most accurate statement?
A. In monopolistically competitive industries there are generally too many firms. B. One of the main problems with monopolistic competition is the lack of variety among goods and services. C. Most firms in the United States are monopolistic competitors. D. The biggest problem with monopolistic competition is over-differentiation.
A static model is postulated when:
A. a change in the independent variable at time ‘t' is believed to have an effect on the dependent variable at period ‘t + 1'. B. a change in the independent variable at time ‘t' is believed to have an effect on the dependent variable for all successive time periods. C. a change in the independent variable at time ‘t' does not have any effect on the dependent variable. D. a change in the independent variable at time ‘t' is believed to have an immediate effect on the dependent variable.