A firm will use land up to the point at which MRPA = PA, where A is acres of land.
Answer the following statement true (T) or false (F)
True
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When the inflation rate is expected to increase, the ________ for bonds falls, while the ________ curve shifts to the right, everything else held constant
A) demand; demand B) demand; supply C) supply; demand D) supply; supply
The conventional view among economists is that persistent budget deficits lead to a ________ capital stock and a ________ level of potential GDP in the long run
A) larger; higher B) larger; lower C) smaller; higher D) smaller; lower
How do the labor force, the nation’s capital stock, and the rate of technical progress contribute to potential GDP growth and labor productivity?
What will be an ideal response?
Matt and Ann both decide to go to a concert with free tickets. We know that
A) both bear an opportunity cost since they could have done other things instead of see the concert. B) both bear the same opportunity cost since they are doing the same thing. C) the cost of going to the concert is greater for the one who had more choices to do other things. D) neither bears an opportunity cost because the tickets were free.