In a production function for the economy, the marginal product of capital typically is increasing.
a. true
b. false
Ans: b. false
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What economic impact would the closing of a nearby military base have on a town? Would people and businesses that did not directly deal with the military personnel be affected?
What will be an ideal response?
Suppose an industry is composed of 10 firms. Each firm's share of total sales in the industry is 10 percent. If two of the firms merge, then the four-firm concentration ratio in the industry is
A) 40 percent. B) 45 percent. C) 50 percent. D) unable to determine.
One result of asymmetric information in the market for used cars is that
a. few used cars are offered on the market b. few lemons are sold c. more lemons may be offered for sale than good cars d. buyers benefit at the expense of sellers e. good cars will sell for more than they are worth
In the United States, the poorest 10 percent of households earns approximately what share of total income?
A. 50% B. 10% C. 2% D. 20% E. 5%