If the marginal product of labor is less than the average product of labor, then the
A. marginal product must be increasing.
B. average product must be decreasing.
C. marginal product must be decreasing.
D. Both B and C
Answer: D
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There is substantial evidence that antitrust policy has been effective in identifying and prosecuting price-fixing by businesses.
Answer the following statement true (T) or false (F)
Which of the following is NOT money
What will be an ideal response?
A shortage creates a situation that forces prices to ________ while a surplus creates a situation that forces prices to ________
A) decrease; increase B) decrease; decrease C) increase; decrease D) increase; increase
Suppose the economy is initially operating at full employment. A reduction in the size of the budget deficit will cause which of the following in the short run?
A. an increase in the price level with no change in real GDP. B. an increase in real GDP and an increase in the price level. C. an increase the price level and a reduction in real GDP. D. a recessionary gap.