Marginal product in the short run:
A. increases at all levels of production.
B. diminishes at all levels of production.
C. may initially increase, then eventually decrease.
D. may initially decrease, then eventually increase.
Answer: C
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More education would by itself lead to many more jobs being available
Indicate whether the statement is true or false
Considering the information in the table shown, if Jack consumes 2 popsicles and 2 ice cream cones:
This table shows the different combinations of goods that Jack can consume, given that his income to spend on these two items is $10.
A. Jack still has $4 left to spend.
B. Jack still has $6 left to spend.
C. Jack still has $8 left to spend.
D. Jack still has $2 left to spend
Suppose Brandon's indifference curves are defined as U = (3/4)?FS + (1/4)?FH, where FS is consumption during sunny weather and FH is consumption during a hurricane. Further suppose Brandon receives 64 units of food when it is sunny and 16 units when there is a hurricane. What is the certainty equivalent of the expected food consumption bundle if the probability of sunshine is ? = 0.75?
A. 49 units of food B. 52 units of food C. 7 units of food D. 25 units of food
The investment trade-off:
A. is a reduction in current consumption to pay for the investment in capital intended to increase future production. B. is why countries don't devote all their resources to capital investment. C. defines the opportunity cost of capital investment. D. All of these are true.