When disposable income is 2500, induced consumption is
A. -500.
B. 0.
C. 500.
D. 1000.
C. 500.
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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
When the long-run average total cost curve is increasing, this means that there are
a. economies of scale b. diseconomies of scale c. constant returns to scale d. diminishing returns e. some fixed factors of production
In the loanable funds market, the price that borrowers must pay for earlier availability is the
a. inflation rate. b. wage rate. c. interest rate. d. exchange rate.
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.