As a shoe factory adds more workers, shoe production grows, reaches a maximum, and then shrinks
In a diagram that has the number of workers on the horizontal axis and the number of shoes on the vertical axis, the relationship between the number of workers and the number of shoes starts as ________ and then, after the maximum point, is ________.
A) negative; positive
B) positive; linear
C) positive; negative
D) positive; nonexistent
E) linear; negative
C
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The ways to address agency costs include all EXCEPT
a. running background checks on prospective employees b. hiring only from job fairs c. spot checks of the quality of employee work d. replacing closed offices with cubical office spaces
In the short run, open-market purchases
a. increase investment and real GDP, and decrease nominal interest rates. b. increase real GDP and nominal interest rates, and decrease investment. c. increase investment and nominal interest rates, and decrease real GDP. d. decrease investment, nominal interest rates, and real GDP.
Which of the following features is included in the NAFTA Agreement?
I. a common tariff structure adopted by Canada, Mexico, and the United States II. elimination of tariffs on trade among Canada, Mexico, and the United States III. free mobility of labor and capital among Canada, Mexico, and the United States a. I b. II c. III d. I, II, and III
People acting in their own self-interest is the basis of the:
A. principle of supply and demand. B. principle of voluntary exchange. C. real-nominal principle. D. principle of scarcity.