Diminishing marginal product exists when the total cost curve becomes horizontal as outputs increases
a. True
b. False
Indicate whether the statement is true or false
False
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A central proposition of the new growth theory is that
A) growth will cease but prosperity will persist. B) knowledge is not subject to diminishing returns. C) government direction and oversight is necessary for consistent growth. D) growth is often just an illusion fostered by growth accounting.
A person buys a newly issued bond that matures in 6 years with a face value of $1,000 and a coupon rate of 5%. How much money will the bondholder receive in the sixth year?
A) $1,050. B) $1,500. C) $1,000. D) $50. E) $500
Goodyear Tire and Rubber Company and the United Steelworkers recently
A. ended a bitter strike. B. went to arbitration to avert a strike. C. agreed to major concessions including a wage freeze, job cuts, plant upgrades, and limited imports. D. agreed to large pay increases tied to productivity gains.
The supply schedule shows the specific quantity of a good that suppliers are willing and able to:
A. demand at various prices. B. produce at various costs. C. hold back from the market when competition is reduced. D. provide at different prices.