When more and more doses of fertilizers are added to a fixed plot of agricultural land, the crop yield initially declines but eventually rises
a. True
b. False
Indicate whether the statement is true or false
False
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When disposable income is $8 trillion, consumption expenditure is $5 trillion; when disposable income is $5 trillion, consumption expenditure is $3 trillion. The MPC is
A) (5 - 3 ) ÷ (8 - 5 ) = 0.667. B) (8 - 5 ) ÷ (5 - 3 ) = 1.333. C) (5/8 + 3/5 ) = 1.225. D) (5 + 3 ) ÷ (8 - 5 ) = 2.667. E) (5 + 3 ) ÷ (8 + 5 ) = 0.615.
If there is no Ricardo-Barro effect, a government budget deficit increases
A) private savings and lowers the real interest rate. B) private savings and raises the real interest rate. C) the demand for loanable funds and raises the real interest rate. D) investment demand and lowers the real interest rate. E) the supply of loanable funds and raises the real interest rate.
Emissions permits might be called a "license to pollute."
a. True b. False Indicate whether the statement is true or false
In applying the lower of cost or market rule, market may be represented by:
a) current replacement costs b) net realizable value c) net realizable value less a normal profit margin d) any of the above may be correct