Which of the following is a main source of increasing returns in recent years?
A. More learning by doing
B. The concentration of development costs
C. The use of less specialized inputs as firms grow
D. More resources devoted to agricultural production
A. More learning by doing
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A change in monetary policy affects
A) consumption expenditure, government expenditures on goods and services, and net exports. B) consumption expenditure, productivity, and net exports. C) government expenditures on goods and services because it affects the government's budget balance. D) consumption expenditure, investment, and net exports. E) investment, government expenditures on goods and services, and net exports.
A retirement system in which the benefits government pays to retirees are paid out of the contributions those retirees make during their working years is called a
A) pay-as-you-go system. B) fully funded system. C) pension plan. D) deferred retirement system.
Considering both product markets and resource markets, most economic decision makers participate in the economy as both buyers and sellers
a. True b. False
If marginal revenue exceeds marginal cost, profit maximizers should
a. reduce output until they are equal b. increase output until they are equal c. increase output until profits are zero d. decrease output unless profits are zero e. maintain current output