Today, the earth has ________ of all of the species that have ever lived
A) less than 1 percent
B) about 50 percent
C) about 99 percent
D) 100 percent
A
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Economies of scale occur when
A) a firm's long-run average total costs fall as it increases the quantity of output it produces. B) the marginal product of labor is greater than the average product of labor. C) the demand for a firm's output increases. D) short-run marginal cost falls.
If the economy is initially at equilibrium and an unexpected decline in aggregate demand takes place, in the short run aggregate output will
A) fall in the new classical view, but not in the new Keynesian view. B) fall in the new Keynesian view, but not in the new classical view. C) fall in both the new Keynesian and new classical views. D) remain at full employment in both the new classical and new Keynesian views.
Spending VCU4 on real-world goods and services causes the nation's:
a. Demand for real goods and services to rise and monetary base to rise. b. Demand for real goods and services to remain the same and M2 money supply to remain the same. c. Demand for real goods and services to remain the same and M2 money multiplier to rise. d. Demand for real goods and services to rise and monetary base to remain the same.
Assume that empirical evidence shows a difference in mean earnings between two groups, say, majority and minority workers. What conclusion may be drawn?
a. The group with the lower earnings is being discriminated against. b. Any of the above statements could, either partially or entirely, explain this difference. c. The group with the lower earnings is less productive. d. The group with the lower earnings has less human capital.