If the economy is characterized by constant returns to scale, then a
A) doubling of inputs will lead to a more than two-fold increase in output.
B) doubling of inputs will lead to a constant output.
C) doubling of inputs will lead to a two-fold increase in output.
D) doubling of inputs will lead to a less than two-fold increase in output.
C
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How much money to hold is an application of the:
A. cost-benefit principle. B. scarcity principle. C. principle of increasing opportunity cost. D. principle of comparative advantage.
A contractionary monetary policy ________.
A. shifts the aggregate supply curve to the left B. is used when the inflation rate is high C. is designed to increase aggregate demand D. can reduce the length of a recession
Jim, a U.S. citizen, works only in Croatia. The value added to production from his employment is:
A) included in only Croatian GNP. B) included only in U.S. GDP. C) included only in U.S. GNP. D) not included in either U.S. GDP or U.S. GNP.
Which of the following is an example of a government program that provides cash assistance to the poor?
a. Temporary Assistance to Needy Families b. Medicaid c. food stamps d. public housing e. Head Start