When a firm's marginal productivity of an input eventually declines as the quantity of input increases, then the production is experiencing
a. Diminishing returns to scale
b. Diminishing marginal product
c. Increasing returns to scale
d. Increasing marginal product
b
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The range in which a duopoly's output falls is less than or equal to the output level in ________ and more than or equal to the output level in ________
A) monopolistic competition; monopoly B) monopolistic competition; perfect competition C) perfect competition; monopoly D) monopoly; monopolistic competition E) monopoly; perfect competition
Which of the following statements is true?
A) Household production is counted in GDP as it amounts to real production. B) GDP growth distributes income equally to people in the economy. C) GDP accounting rules do not adjust for production that pollutes the economy. D) A decrease in the crime rate increases GDP as people will spend more on security.
The payoff matrix below shows the payoffs (in millions of dollars) for two firms, A and B, for two different strategies, investing in new capital or not investing in new capital. 
Firm A's dominant strategy is to ________, and Firm B's dominant strategy is to ________.
A. not invest; invest B. not invest; not invest C. invest; invest D. invest; not invest
Both Keynesians and real business cycle proponents believe that tax cuts increase output
a. and both agree it does this through increasing aggregate demand. b. but Keynesians believe it does this through increasing aggregate demand and not aggregate supply. c. but Keynesians believe it does this through increasing aggregate supply and not aggregate demand. d. and both agree it does this through increasing aggregate supply.