Refer to the diagram, where variable inputs of labor are being added to a constant amount of property resources. The total output of this firm will cease to expand:
A. if a labor force in excess of Q 1 is employed.
B. if a labor force in excess of Q 2 is employed.
C. if a labor force in excess of Q 3 is employed.
D. only if the marginal product curve becomes negative at all levels of output.
C. if a labor force in excess of Q 3 is employed.
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When the tax structure of a nation is progressive, as incomes increase, the tax rate:
a. declines. b. remains the same. c. increases. d. is proportional.
When the prices of final goods and services increase more quickly than the prices of inputs, we say that:
A. the prices of some inputs are sticky. B. the prices of some final goods are sticky. C. the economy must be in the long run. D. the economy is inefficient.
The aggregate supply curves show how much a nation's businesses are willing and able to produce at each price level
a. True b. False Indicate whether the statement is true or false
Benefits of R&D spending to foreigners may be as much as 1/4 of the total value of the spending
Indicate whether the statement is true or false