When a firm doubles its inputs, its output:
A. will double.
B. will less than double.
C. will more than double.
D. All of these are possible.
D. All of these are possible.
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Economists probably agree more often than they disagree
a. True b. False Indicate whether the statement is true or false
Compared to the other sources of spending, net exports is
A) large and negative. B) small and negative. C) large and positive. D) small and positive.
Ten individuals have $100 and identical preferences for picnics, p, and kayak trips, k, where U(p, k) = k0.5p0.5. The price of picnics is $5 and the price per kayak trip is $ 10
What is the shortage/surplus in the market when the supply of picnics totals 120? A) There is a surplus of 20. B) There is a shortage of 20. C) The market is in equilibrium. Therefore, there is no surplus/shortage. D) There is not enough information to answer this question.
An annual household income of $19,000 would not be in the lowest quintile in 2005
Indicate whether the statement is true or false