An input is indivisible if:
A. it cannot be increased to produce a larger quantity of output.
B. it cannot be used as a substitute for other inputs in the production process.
C. it is sufficiently inexpensive to purchase that firms will want to buy as much as they can.
D. it cannot be scaled down to produce a smaller quantity of output.
Answer: D
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What matters to people is the real value of money or income
Indicate whether the statement is true or false
On the Solow Diagram, an increase in productivity is shown by ________
A) an upward shift of the depreciation plus capital dilution line B) an upward shift of the investment function C) a downward shift of the depreciation plus capital dilution line D) a downward shift of the investment function
The difference between a change in quantity demanded and a change in demand is that a change in:
a. quantity demanded is caused by a change in a good's own current price, while a change in demand is caused by a change in some other variable, such as income, tastes, or expectations. b. demand is caused by a change in a good's own current price, while a change in quantity demanded is caused by a change in some other variable, such as income, tastes, or expectations. c. quantity demanded is a change in the amount people actually buy, while a change in demand is a change in the amount they want to buy. d. A change in demand and a change in quantity demanded are the same thing.
For a market for a good or service to exist, there must be a
a. group of buyers and sellers. b. specific time and place at which the good or service is traded. c. high degree of organization present. d. All of the above are correct.