All other things staying the same, an increase in the amount of labor would cause the marginal productivity of capital to
A. remain the same.
B. decrease.
C. increase.
D. increase at a decreasing rate and then remain constant.
C. increase.
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A consumer is likely to avoid adverse selection and get a high-quality lunch at
A) a snack bar at a traveling carnival. B) a vendor who parks her cart at a different location every noon. C) a restaurant in the center of a business district. D) a restaurant located next door to Disneyland.
An insurer requiring a policyholder with a collision claim to submit more than one estimate of the repair costs is using a deductible to reduce morally hazardous behavior
Indicate whether the statement is true or false
Stocks and bonds are
a. financial assets; therefore, they are considered to be money b. highly-liquid financial assets; therefore, they are considered to be money c. not highly-liquid financial assets; therefore, they are not considered to be money d. widely accepted means of payment; therefore, they are considered to be money e. not financial assets; therefore, they are not considered to be money
According to the data on real U.S. GDP,
a. economic growth has been irregular, with periodic downturns. b. economic growth has been consistent, with few downturns. c. economic growth has been extremely rapid, but with major collapses. d. economic growth has been elusive, but downturns have been eliminated.