If a firm is experiencing diminishing marginal returns to labor,
a. the additional increments to output become smaller as more labor is used
b. total output falls as more labor is used
c. total output remains constant as more labor is used
d. additional increments to output rise as more labor is used
e. total revenue falls as more labor is used
A
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As distinct from Medicare, Medicaid is a
a. federally funded, state-administered program that pays medical and hospital costs for welfare recipients and other low-income people b. federally funded and federally operated program that pays medical and hospital costs for welfare recipients and other low-income people c. state-funded and state-operated program that pays medical and hospital costs for welfare recipients and other low-income people d. federally funded and federally operated program that pays medical and hospital cost for elderly (over 65) welfare recipients e. state-funded program which pays the medical and hospital costs for elderly (over 65) welfare recipients
Which of the following are not included in the M1 definition of the money supply?
a. cash and currency b. checkable deposits c. money market deposit accounts d. All of the above are included.
Larry buys stock in A to Z Express Company. Curly Corporation builds a new factory. Whose transaction would be an act of investment in the language of macroeconomics?
a. only Larry's b. only Curly Corporation's c. Larry's and Curly Corporation's d. neither Larry's nor Curly Corporation's
Miniville is an isolated town located on the southern shore of Lake Condescending, a very large lake. The western edge of Miniville is adjacent to impassable mountains and there are no towns or businesses for many miles to the east. The 300 residents of Miniville are evenly distributed along 3 miles of shoreline on the lake, east of the mountains. Lake Shore Drive, the only street in town, provides access to Miniville's homes and businesses. All residents live between the lake and the street; businesses locate on the other side of the street. Lake Shore Drive is 3 miles long, and the points labeled A, B, and C are 1, 2, and 3 miles from the western end of Lake Shore Drive, respectively. All residents of Miniville shop at the store located closest to their homes. src="https://sciemce.com/media/4/ppg__1420829190927__f1q534g1.jpg" alt="" style="vertical-align: 0.0px;" height="94" width="384" /> If one store is located at A and the other store is located at C:
A. 100 people will shop at the store at A, and 200 people will shop at the store at C.
B. 100 people will certainly shop at each store, but where the other 100 will shop is indeterminant.
C. 150 people will shop at each store.
D. 200 people will shop at the store at A, and 100 people will shop at the store at C.