Which of the following is true of marginal product?
a. The firm should produce where marginal product is greatest.
b. The firm should produce where marginal product is increasing.
c. When marginal product is falling, total product is falling.
d. The firm should produce where marginal product is zero.
e. When marginal product is increasing, total product is increasing by increasing amounts.
E
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The relationship depicted in the above figure is
A) a negative linear relationship B) a positive linear relationship C) a positive becoming less steep relationship D) a positive becoming steeper relationship
If events in a single country cause its economic activity to move up or down through a business cycle, what difference(s) might it make that the economy is closely integrated with other economies in the world?
What will be an ideal response?
Which of the following is true if all the national debt were owned internally?
a. The federal government would not need to refinance the national debt. b. The federal government would not need to worry about raising taxes to pay interest on the national debt. c. We would still be concerned about the effect on the distribution of income from interest payments on the national debt. d. All of these are true.
____________________ is when a firm is able to produce along its expansion path
Fill in the blank(s) with the appropriate word(s).