Constant returns to scale (CRS) implies that ________
A) increasing all the factor inputs by the same percentage lead to the same percentage increase in output
B) increasing all the factor inputs by the same percentage lead to a higher percentage increase in output
C) increasing all the factor inputs by the same percentage lead to a lower percentage increase in output
D) increasing all the factor inputs by the same percentage leaves output unchanged
E) none of the above
A
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An economic recession in Japan will cause the aggregate demand curve in the United States to shift to the right.
Answer the following statement true (T) or false (F)
Many companies monitor their employees' Internet use and email. Why might they be doing this?
A) Because they like to spy. B) In order to improve morale. C) To gain inside information on new consumer trends. D) To reduce shirking.
When some firms leave a perfectly competitive market, the price:
A. falls, and profits of those left rise. B. falls, and profits of those left fall. C. increases, and profits of those left rise. D. increases, and profits of those left fall.
In cases of extreme annual inflation, the breakdown of the monetary system forces people to waste valuable time engaging in bartering
a. True b. False