When marginal costs are rising
A. average physical product is falling.
B. marginal physical product is also rising.
C. marginal physical product is falling.
D. average physical product is rising.
Answer: C
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In the production of goods and services, trade-offs exist because
A) not all production is efficient. B) society has only a limited amount of productive resources. C) buyers and sellers often must negotiate prices. D) human wants and needs are limited at a particular point in time.
Which of the following would be included in aggregate demand?
a) government's tax collections b) the quantity of services that firms sell c) firms' purchases of newly produced machinery d) the quantity of goods that firms produce
Judging from the table of the four types of goods, goods that are rival in consumption would include ______.
a. movie streaming and security system
b. automobiles and rainforest trees
c. highway signs and street lighting
d. street lighting and security system
The International Monetary Fund was created
A) in 1945 by the Bretton Woods Agreement. B) to collect money from member countries that were running balance of payments deficits. C) in 1971 when President Richard Nixon signed the Bretton Woods Agreement. D) in the aftermath of World War II to help nations move off of the gold standard.