Refer to the figure above. The slope of the production function between ________ and ________ indicates negative returns to labor
A) Point B; Point C
B) Point A; Point C
C) Point A; Point B
D) the origin; Point A
A
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Assuming the Federal Reserve makes an open-market purchase of a government security worth $10,000 . By writing a check to pay for this security, the Federal Reserve
a. reduces the balance of its assets by $10,000. b. reduces the balance of its liabilities by $10,000. c. neither reduces the balance of its assets nor the balance of its liabilities by $10,000. d. creates a new $10,000 liability against itself. e. both c and d are correct.
When a tax is placed on the sellers of a product, buyers pay
A. more, and sellers receive more than they did before the tax. B. more, and sellers receive less than they did before the tax. C. less, and sellers receive more than they did before the tax. D. less, and sellers receive less than they did before the tax.
How can tariffs lead to a situation in which all parties to a trade lose?
What will be an ideal response?
If the typical perfectly competitive firm is earning an economic profit in the short run, then in the long run:
a. new firms will enter. b. market supply will decrease. c. market price will increase. d. each firm will earn an economic loss.