What might cause diseconomies of scale?
coordination problems
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Which of the following experiments will yield observations that would allow one to calculate the marginal physical product of labor?
A. Increase the number of lumberjacks with chain saws and observe the change in output of cut trees B. Increase the number of workers on an assembly line and record the change in output C. Increase the number of data entry operators and computers and calculate the extra output. D. Check the number of workers before and after a given time period.
The market for buying and selling foreign currencies is often referred to as the market for:
A. foreign exchange. B. loanable funds. C. international trade. D. direct foreign investment.
Birth rates and death rates determine not only population size, but the age distribution of the population. For the poorest countries in the world, the percentage of the population that is under the age of fifteen years old is approximately
a. 5–10 percent b. 10–15 percent c. 15–30 percent d. 30–35 percent e. more than 35 percent
Economists do not agree on why wages are more rigid now than they were before World War II
a. True b. False Indicate whether the statement is true or false