Total output equals total income
a. only at equilibrium.
b. always.
c. only at non-equilibrium levels of income.
d. never.
b
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The difference in economic growth in North Korea and South Korea can be primarily attributed to differences in ________
A) the proximate causes of prosperity B) geography C) culture D) institutions
Under which of the following conditions will a profit-maximizing perfectly competitive firm shut down in the short run?
A) when it is making a normal profit B) whenever its marginal cost is less than its marginal revenue C) when the price is less than its minimum average variable cost D) whenever its total cost is greater than its total revenue E) when the price is less than its minimum average total cost
The law of diminishing marginal returns per worker states that beyond some point:
a. marginal satisfaction declines per unit. b. decreases in capital per worker add more to output per worker. c. marginal satisfaction increases per unit. d. increases in capital per worker add less to output per worker.
Which of the following is part of the uterus?
A. Areola B. Fimbriae C. Fundus D. Perineum