From 1970 to 1984, the productivity of the Lockeed Company increased as the company produced more airplanes. According to the text, Lockeed's experience can best be described as:

A. increasing returns to scale.

B. technological change.

C. learning-by-doing.

D. increasing marginal returns.


C. learning-by-doing.

Economics

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To compare the change in physical production (GDP) between 2010 and 2016, we should compare ________ GDP in 2010 with ________ GDP in 2016.

A. nominal; nominal B. real; real C. real; nominal D. current dollar; current dollar

Economics

Which of the following is an example of an intermediate good?

a. a pair of jeans sold by a clothing retailer b. cloth sold to a suit manufacturer c. a share of Wal-Mart stock d. a used Ford Mustang sold from one neighbor to another

Economics

Since there are many college bookstores in the United States, college bookstores have no power to influence book prices on campus.

Answer the following statement true (T) or false (F)

Economics

The MFC can be calculated by the

A. total wages/total labor. B. change in labor/change in total wages. C. change in total wages/change in labor. D. total wages/change in labor.

Economics