Diminishing marginal returns occur in the short run.
Answer the following statement true (T) or false (F)
True
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Data on annual percentage changes in real GDP, consumption, and investment in the United States shows that fluctuations in investment _____
a. are noticeably smaller during expansions than during recessions b. are roughly similar to fluctuations in consumption c. are roughly similar to fluctuations in GDP d. are closely followed by economic forecasters because those fluctuations often signal that a recession will occur e. account for most of the variability in GDP
A monopoly would have a concentration ratio of
A. 1. B. 4. C. 100. D. 1,000.
An argument that comes up from time to time is that credit unions have an advantage over other financial depository institutions in the sense that they are non-profit institutions and, therefore, are exempt from taxes on income that other private depository institutions pay. As a result, credit unions may be able to charge lower rates of interest to borrowers and pay a higher rate to depositors than these other institutions. What do you think of this argument?
What will be an ideal response?
In the production function for new ideas and technology in ________, a decrease in the labor force will ________ the growth rate of technological change
A) the AK growth models; decrease B) the AK growth models; increase C) the two-sector growth model; decrease D) the two-sector growth model; increase