If production is given by Q = KsLb, (a + b < 1) doubling both inputs
a. more than doubles output.
b. exactly doubles output.
c. increases output but does not double it.
d. leaves output unchanged.
c
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Which statement is false?
A. Had the stock market not crashed and the rest of the world not gone into a depression, the U.S. depression might have been avoided. B. By the end of 1930 thousands of banks had failed. C. By the first week in March 1933 every single bank in the United States had shut its doors. D. None of the statements are false.
In Figure 4-5 above, suppose that real income is YB and the money market is in equilibrium. The interest rate at this point is ________ to support commodity market equilibrium, so that involuntary inventory changes are ________
A) too low, positive B) too low, negative C) just right, zero D) too high, positive E) too high, negative
Economists use the term capital to describe that factor of production that includes human-made resources such as factories, buildings, machinery and tools
a. True b. False Indicate whether the statement is true or false
Which of the following statements concerning the prisoner's dilemma is TRUE?
A) The player who moves last will always win. B) Confessing is the dominant strategy for both players. C) Neither player will pick the dominant strategy. D) The player who moves first will always win.