The following Cobb-Douglas production function, Q = 1.8L0.74K0.36, exhibits
A) increasing returns.
B) constant returns.
C) decreasing returns.
D) Both A and B
A
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In 2011, apples cost $1.49 a pound. Suppose the CPI was 120 in 2011 and 140 in 2012. If there is no change in the real price of an apple in 2012, what is the price of a pound of apples in 2012?
A) $2.74 B) $1.69 C) $1.66 D) $1.74 E) $1.28
A study of segregated streetcars in the southern United States in the early twentieth century found which of the following?
a. Firms that ran the streetcars were more interested in segregating customers by race than profits. b. The firms that ran the streetcars were unanimous in their support of laws that required segregation of races. c. Before the passage of laws that mandated segregation of races on streetcars, segregation of smokers and nonsmokers was more common than segregation of races. d. Segregation based on gender was more common than race at first.
Game theory is necessary to understand which kinds of markets? (i) perfectly competitive (ii) monopolistically competitive (iii) oligopoly (iv) duopoly (v) monopoly
a. (i) and (ii) only b. (iii), (iv), and (v) only c. (iii) and (iv) only d. (i), (ii), (iii), (iv), and (v)
The ERM crisis in ______ affected the ability of nations to ______.
A) 2001; fully fund their military forces B) 1996; allow labor to migrate between nations C) 1980; maintain a healthy banking system D) 1992; maintain fixed exchange rates without drastic domestic measures