The Ricardian notion that of diminishing returns implies that
a. as more input is used more output will be made.
b. as more input is used less output will be made.
c. as more input is used the increase in output will increase.
d. as more input is used the increase in output will decrease.
d
You might also like to view...
If the required reserve ratio is increased from .1 to .2, the demand deposit expansion multiplier
A) increases from 10 to 5. B) increases from 4 to 4.5. C) decreases from 5 to 2.5. D) decreases from 10 to 5.
Creditors supply loans to sole proprietors at a high rate of interest because of:
a. their low profit expectancy from this business. b. frequent experience of loan default. c. their inability to call in their loans or sell them to others. d. their general risk-averse nature.
How does U.S. gross domestic product (GDP) differ from U.S. gross national product (GNP)?
a. GNP = GDP - losses from depreciation b. GNP = GDP + income earned by U.S. citizens abroad - income that foreign citizens earned in the U.S. c. GNP = GDP + transfer payments to households + - indirect sales taxes d. GNP = GDP - depreciation - retained earnings
According to the representative heuristic, people are more likely to believe that something belongs to a given category if:
A. people believe that they themselves are members of the category. B. it shares characteristics with the stereotypical members of that category. C. people can recall other members of the category. D. it is unlike the stereotypical members of that category.