As output expands,
A. increasing returns will follow diminishing returns.
B. diminishing returns will follow increasing returns.
C. increasing returns and diminishing returns will occur simultaneously.
B. diminishing returns will follow increasing returns.
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According to this Application, some economists believe that recessions which are caused by ________ normally have ________ recoveries
A) high oil prices; faster B) financial crises; faster C) high oil prices; slower D) financial crises; slower
As the dollar depreciates, the dollar price of imported goods _________, ultimately shifting the United States AD curve __________________
A) rises; rightward B) rises; leftward C) falls; rightward D) falls; leftward
The expansion of global trade has especially benefited individuals whose skills are relatively common in the worldwide economy.
Answer the following statement true (T) or false (F)
Refer to the above figure. Which point represents the highest level of utility?
A. Point A B. Point B C. Point C D. Point D