The table in the above figure shows the levels of output resulting from different levels of inputs. Which of the following conclusions can be drawn from this information?
A) Increasing returns to scale exist between 100 and 200 units of output.
B) Constant returns to scale exist throughout all levels of production.
C) Labor is subject to diminishing marginal productivity in the short run.
D) No firm conclusions can be drawn.
A
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Money is more mobile geographically now than in the past
Indicate whether the statement is true or false
If the Fed ________ the money supply, the user cost of capital will ________ and V* will ________
A) increases; increase; increase B) increases; decrease; increase C) decreases; decrease; decrease D) decreases; decrease; increase
In the very short run:
a. new firms may enter an industry. b. existing firms may change the quantity they are supplying. c. price and quantity supplied are absolutely fixed. d. quantity supplied is absolutely fixed.
If the population is split up into quintiles by income, the bottom quintile would include:
A. the poorest half of the population. B. the poorest 60 percent of the population. C. the richest half of the population. D. the poorest 20 percent of the population.