When new technologies are applied to the production and distribution of goods and services:
A. scarcity is eliminated.
B. diminishing returns to capital no longer hold.
C. average labor productivity decreases.
D. diminishing returns to capital still hold.
Answer: D
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Which of the following is true?
A) Government intervention in the form of direct regulation does not involve any cost. B) The opportunity cost of government work is the tax imposed on the society. C) The allocation of time and talent of individuals to bureaucracy is an important cost of government. D) The larger the size of the bureaucracy, the higher is its efficiency.
A trend is a general tendency for a variable to increase or decrease over time
Indicate whether the statement is true or false
Your friend Diana tells you that she thinks that her favorite softball team has a 70% chance of winning the next game because that is exactly the winning rate of her team in the last two seasons. This is an example of a(n)
A) objective probability. B) subjective probability. C) risk-averse statement. D) Friedman-Savage preference.
Most job search in the U.S. economy takes place with the help of the government
a. True b. False Indicate whether the statement is true or false