At that amount of output where diminishing marginal returns first sets in
A) total product will begin to decline.
B) average product will begin to decline.
C) marginal product will begin to decline.
D) all of the above
C
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A best response is ________
A) one player's optimal action choice irrespective of the action of the other player B) one player's optimal action choice taking the other player's action as given C) an action choice that always results in a zero payoff to the opponent D) an action choice that results in equal payoffs to all the players in a game
Samuel Slater is most recognized for:
a. inventing the cotton gin. b. inventing the telegraph. c. lobbying the government for the abolition of slavery. d. playing an integral role in developing the first American factory.
If the US interest rate is 4% per year and the Mexico interest rate is 9% per year, which of the following is true:
a. The dollar will depreciate 5% in one year. b. The peso will appreciate 9% in one year. c. The peso will depreciate 5% in one year. d. The dollar will appreciate 9% in one year.
Gross Domestic Product is the market value of
a. all exchanges made during the course of a year b. all final goods produced during the course of a year c. all monetary transactions during the course of a year d. all the goods produced during the course of a year over and above what is required to maintain the population and the stock of capital e. all final goods sold during the course of a year