Diminishing returns set in with the _____ worker.
4th
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If a Lorenz curve for a country's income bows more rightward over time, then the country's
A) income is increasing. B) income is decreasing. C) income is becoming more unequally distributed. D) income is becoming more equally distributed.
If the required reserve ratio is 100 percent, could the Federal Reserve still change the money supply with open market operations? Explain whether they could or could not
What will be an ideal response?
Which of the following is not true regarding "exchange rate indexes?"
A) They will all show the same general trends (i.e., appreciation or depreciation). B) Neither economic theory nor practice gives a clear indication of which exchange rate is best. C) For short-term movements, there can be large differences across exchange rate indexes. D) Exchange rate indexes are used to measure the average value of a currency relative to several other currencies.
In the Cournot model, a firm maximizes profit by selecting
A) its output, assuming that other firms keep their output constant. B) its price, assuming that other firms keep their price constant. C) its output, assuming that other firms will retaliate. D) its price, assuming that other firms will retaliate.