In the absence of increases in the capital stock, increases in labor are subject to diminishing returns.
Answer the following statement true (T) or false (F)
True
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If the change in y = 10 and the change in x = 3, there is
A) a positive relationship between y and x. B) a negative relationship between y and x. C) an independent relationship between y and x. D) no relationship between y and x. E) a +0.33 relationship between the two variables.
Which of the following will be counted as an investment expenditure in the measurement of GDP?
A) purchase of a tractor by a farmer from his neighbor B) purchase of preferred stock in ABC Corporation C) purchase of a newly built tractor by a college fraternity for hay rides at their charity fair D) purchase of an apartment in a newly-built building E) purchase of newly built computers by a municipal government
Define allocative efficiency. Explain the significance of this concept in economics?
What will be an ideal response?
Refer to the diagram that applies to a private closed economy. If aggregate expenditures are C + I g2 , the amount of saving at income level J is:
A. LK.
B. KN.
C. KD.
D. JD.