The overall mortality rate in the United States has declined for the past 30 years
Indicate whether the statement is true or false
TRUE
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The law of diminishing returns
a. explains why marginal cost eventually increases as output expands. b. implies that average fixed cost will remain unchanged as output expands. c. is true for physical production activities but not for activities such as studying. d. applies to a capitalist economy but would be irrelevant if the means of production were owned by the state.
Is the firm a perfect competitor or an imperfect competitor?
According to rational expectations, if policy makers consistently stimulate aggregate demand when real output falls below the economy's potential output, then people will not be able to anticipate the effects of this policy on the price level, unemployment, and the real output level
Indicate whether the statement is true or false
Refer to the given diagram. The marginal propensity to save is equal to:
A. CD/0D.
B. 0B/0A.
C. 0A/0D.
D. CD/BD.