Refer to Table 2.4. The principle of diminishing returns sets in with the addition of the ________ tank of fertilizer
A) second B) third C) fourth D) fifth
A
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When the Fed purchases government securities,
A) required reserves in the banking system decrease, leading to fewer loans being made. B) required reserves in the banking system increase, leading to more loans being made. C) the monetary base does not change. D) excess reserves in the banking system decrease, leading to fewer loans being made. E) excess reserves in the banking system increase, leading to more loans being made.
Total surplus is maximized in a(n) ________
A) monopolistically competitive market B) perfectly competitive market C) oligopoly D) monopoly
When drawn against current income, the slope of the Cd (r) + Id (r) + G curve is equal to the marginal
A) product of capital. B) product of labor. C) propensity to consume. D) propensity to save.
The longer the time buyers have to respond to a decrease in price, the more likely it is that the total revenue for the good in question would increase as a result
a. True b. False Indicate whether the statement is true or false