Refer to the table above. After applying the second bag of fertilizer, the farmer experienced
A) constant returns. B) diminishing returns.
C) increasing returns. D) negative returns.
B
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Even though Mexico is a developing country, the NAFTA market is very rich
Indicate whether the statement is true or false
The speculative demand for money is associated with ___________ and, graphed with interest rate on the vertical axis and money on the horizontal, is ___________
a. classical economics; upward sloping b. classical economics; downward sloping c. monetarists; downward sloping d. Keynesian economics; downward sloping e. Keynesian economics; upward sloping
Many economists maintain that
a. the aggregate supply curve is nearly horizontal at low levels of real GDP. b. the aggregate supply curve is nearly vertical at very high levels of real GDP. c. any change in aggregate demand will have most of its effect on output when economic activity is low but on prices when the economy is near full employment. d. All of the above are correct.
There are no fixed costs in the long run.
Answer the following statement true (T) or false (F)