Decreasing returns to scale may occur as increasing the amount of inputs used
A) increases specialization.
B) always increases the amount of output produced.
C) may cause coordination difficulties.
D) increases efficiency.
C
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Of the following, the federal government's largest source of revenue is the
A) sales tax. B) property tax. C) corporate income tax. D) Social Security tax. E) transfers from state and local governments.
In the basic closed-economy ISLM model, the LM curve can be described by an equation where
A) output is a function of consumption. B) money is a function of interest rates. C) output is a function of money. D) interest rate is a function of output.
Which of the following taxes is most likely to be regressive?
A. General sales taxes B. Personal income taxes C. Corporate income taxes D. Estate taxes
Which statement is true?
A. Entrepreneurial ability is abundant in the U.S. B. The entrepreneur sets up a business and risks his or her own money. C. Land, labor and capital may be considered passive resources. D. All of the statements are true.