As one moves down a straight-line demand curve, the elasticity decreases
a. True
b. False
Indicate whether the statement is true or false
True
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The standard deviation around an expected value is a useful measure of
A) expected value of an asset. B) economic value of an asset. C) the difference between the best-case return of an asset and its worst-case return. D) deviation of an asset's actual returns from its expected returns.
Production possibilities curves for large economies are generally bow-shaped because:
A. opportunity costs tend to decrease with increases in production. B. specialization gives some producers a comparative advantage. C. opportunity costs tend to increase with increases in production. D. as more resources are used to produce a good, those resources become less expensive.
Which of the following might decrease the demand curve of labor for minority groups?
A. Elimination of discrimination against blacks. B. Elimination of discrimination against females. C. Easing licensing requirements. D. Increasing discrimination against any minority groups.
Average product is calculated by dividing total product by the
A. quantity of the variable input. B. production function. C. quantity of the fixed input. D. amount of variable and fixed inputs employed.