Consider a two-input production function, one of which is increasing while the other is fixed. At the point of diminishing returns, output will
A) increase at an increasing rate. B) decrease at a decreasing rate.
C) decrease at an increasing rate. D) increase at a decreasing rate.
D
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Structural unemployment:
A. Is generally less than cyclical unemployment B. Cannot be reduced with demand side policies C. Includes cyclical unemployment D. Is generally greater than cyclical unemployment
As a result of slow economic growth in 2011, many companies including Cisco Systems, Lockheed Martin, and Cracker Barrel Old Country Store cut production and employment as a result of the sluggish growth in the total amount of spending in the economy. The total amount of spending in the economy is known as
What will be an ideal response?
Exhibit 6-9 Cost schedule for firm X OutputQuantity Total FixedCost Total VariableCost 0 $100 $ 0 1 100 50 2 100 84 3 100 108 4 100 127 5 100 150 As shown in Exhibit 6-9, the average total cost of producing 5 units is:
A. $20. B. $30. C. $50. D. $250.
Which of the following is true if there is a surplus of loanable funds?
What will be an ideal response?