Recall the Application about the use of fertilizer and its impact on crop yields to answer the following question(s). The table is taken from this Application.
Bags of Fertilizer Bushels of Corn0851120213531444147Refer to the table above. After applying the second bag of fertilizer, the farmer experienced:
A. increasing returns.
B. diminishing returns.
C. constant returns.
D. negative returns.
Answer: B
You might also like to view...
Which of the following decreases aggregate demand and shifts the AD curve leftward?
A) a tax cut B) an increase in quantity of money C) an interest rate hike D) a decrease in potential GDP E) an increase in government expenditures on goods and services
Suppose the price of a soda is $2 each, the price of a hot dog is $3 each and the budget is $20. If the marginal utility of the fourth soda is 100 and the marginal utility of the fourth hot dog is 150, to maximize utility, a person will buy
A) 4 sodas and 4 hot dogs. B) more hotdogs than 4 and fewer sodas than 4 because hot dogs provide more utility. C) more sodas than 4 to increase their utility. D) fewer sodas than 4 and more hot dogs than 4.
The theory of intertemporal choice was presented by ________
A) Adam Smith in 1776 B) Alfred Marshall in 1871 C) Irving Fisher in 1930 D) John Maynard Keynes in 1936
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and reserve-related (central bank) transactions in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and reserve-related (central bank) transactions remain the same. b. The GDP Price Index falls, and reserve-related (central bank) transactions become more negative (or less positive). c. The GDP Price Index and reserve-related (central bank) transactions remain the same. d. The GDP Price Index rises, and reserve-related (central bank) transactions become more positive (or less negative). e. The GDP Price Index rises, and reserve-related (central bank) transactions remain the same.