The negative effect of having more potential volunteers resulting in a reduced likelihood of a beneficial outcome is known as the
A) diffusion effect.
B) externalizing effect.
C) group dynamic effect.
D) size effect.
A
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The resource income earned by those who supply ________ is called wages
A) labor B) natural resources C) entrepreneurship D) capital
The price level is 3, total output is 500, and the money supply is 200. The velocity of money is
A) 7.5. B) 2.5. C) 2.0. D) None of the above.
If we know average total cost and the amount of output, then we can always calculate total cost by
A) adding average total cost and the amount of output. B) subtracting the amount of output from average total cost. C) multiplying average total cost by the amount of output. D) dividing average total cost by the amount of output.
The long-run industry supply curve ________ in a decreasing-cost industry.
A. is vertical B. slopes down C. is horizontal D. slopes up