To economists, investment means buying stocks and bonds.
Answer the following statement true (T) or false (F)
False
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Producers typically face increasing marginal costs of production. Thus, their production possibilities frontier would
A) slope upward. B) bend inward. C) bend outward. D) appear as a straight line.
For consideration of such issues as labor's productivity growth nationwide, the relevant measure is the
A) marginal product of labor. B) average product of labor. C) total product of labor. D) wage. E) cost of capital.
In competitive industries, firms that innovate can expect to make no profit in the short run
Indicate whether the statement is true or false
Changes in supply and demand in the labor market will cause changes in wages
a. True b. False Indicate whether the statement is true or false