The stage of production where the total physical product curve begins to decline corresponds to
A) MPP< 0. B) APP < 0. C) Stage 3. D) Both B and C
Answer: C
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A competitive firm will shut down its operations in the short run when the market price falls below its
a. marginal revenue. b. marginal cost. c. average cost. d. average variable cost.
The biggest single factor affecting family income distribution is the
A) householder's age. B) householder's marital status. C) household size. D) householder's education.
Suppose the variable 
has been omitted from the following regression equation, 
is the estimator obtained when
src="@@PLUGINFILE@@/ppg__cognero__Ch_03_Multiple_Regression_Analysis_Estimation__media__def961f9-c383-4603-be40-6b7c9396899a.PNG" style="vertical-align:-9px;" height="25px" width="17px" /> is omitted from the equation. The bias in 
is negative if _____.
A. 
>0 and 
and 
are positively correlated
B. 
<0 and 
and 
are positively correlated
C. 
=0 and 
and 
are negatively correlated
D. 
=0 and 
and 
are negatively correlated
As commercial banks keep more excess reserves, what happens to money creation?
(A) It remains the same. (B) It could either increase or decrease. (C) It increases. (D) It decreases.