The law of diminishing returns to labor implies that
a. capital is more productive than labor
b. workers become less efficient once they have a secure job
c. output increases at a decreasing rate with the employment of new workers
d. employers pay workers a wage rate that is less than the workers' MRP
e. capital is less productive than labor
C
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Explain why the rates of death due to kidney disease and diabetes have slightly increased in the United States since 1981
What will be an ideal response?
After firm A acquired firm B, it lowered the prices for the goods produced by both firms. This can increase profits if the goods are
a. Substitutes b. Complements c. Not related d. None of the above
Import quotas contribute to higher prices of products imported into the U.S., but tariffs do not
a. True b. False Indicate whether the statement is true or false
If the Fed conducts open-market purchases, the money supply
a. increases and aggregate demand shifts right. b. increases and aggregate demand shifts left. c. decreases and aggregate demand shifts right. d. decreases and aggregate demand shifts left.