Recall the Application about the use of fertilizer and its impact on crop yields to answer the following question(s). The table is taken from this Application.
Bags of Fertilizer Bushels of Corn0851120213531444147Based on the data in the table, this Application addresses the economic concept of:
A. the marginal principle.
B. the principle of voluntary exchange.
C. the principle of diminishing returns.
D. the real-nominal principle.
Answer: C
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In the game in Scenario 13.3, the equilibrium outcome:
A) is for Moto to offer a CD changer and Zport to offer low-profile tires. B) is for Moto to offer a CD changer and Zport to offer a sun roof. C) is for Moto to offer free maintenance and Zport to offer low-profile tires. D) is for Moto to offer free maintenance and Zport to offer a sunroof. E) does not exist in pure strategies.
Patents stimulate investment
a. by giving inventors an incentive to incur up-front costs of developing new products b. by giving tax breaks to inventors c. by guaranteeing a profit from new products d. by lowering interest rates e. through government payments that cover costs of research and development
One of the main causes of economic inequality in Latin America is the
A) failure of governments to support urban consumers. B) lack of progress in raising agricultural productivity. C) lack of governmental interest in solving the problem of inequality. D) focus of governments on agricultural exports to the detriment of food production. E) oil crisis of the 1970s.
During 1980-2009, the countries achieving the most rapid growth of real GDP were nearly all
a. high-income developed economies. b. low-income less developed economies at the beginning of the period. c. South American economies. d. European economies. e. African economies.