The marginal product of a variable resource decreases as each additional unit of that resource is employed is increasing marginal returns
Indicate whether the statement is true or false
false
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At the end of World War I (1918), the United States
A. emerged as the world's leading industrial power. B. was the world's largest economy. C. had become the greatest military power. D. All of the choices are true.
In countries with very restrictive labor laws , many firms are reluctant to hire workers. This reluctance can
A) reduce cyclical unemployment and the natural rate of unemployment. B) reduce structural unemployment and the natural rate of unemployment. C) reduce frictional unemployment and the natural rate of unemployment. D) increase the natural rate of unemployment.
Which of the following would shift the aggregate demand curve to the left?
a. An increase in exports. b. An increase in investment. c. An increase in government spending. d. A decrease in government spending.
Refer to above figure, which represents a duopoly industry. What would be the likely total industry payoff or profit?
A. zero B. $14 million C. $8 million D. $9 million E. $10 million