Which of the following is possible in a 2-input production technology.
A. The technology has increasing returns to scale but diminishing marginal product of all inputs.
B. The technology has increasing returns to scale but diminishing marginal product of all but one input.
C. The technology has decreasing returns to scale but increasing marginal product of one input.
D. (a) and (b)
E. (a) and (c)
F. (b) and (c)
G. None of the above
H. All of the above
Answer: D
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A company can hire non-union workers, but a condition of their employment is that they must join the union within their first 90 days on the job. This is an example of a
A) right-to-work law. B) closed-shop. C) union shop. D) voluntary craft union.
European countries (relative to the United States)
a. have a higher share of bank loans to GDP b. have a higher market capitalization c. have more IPOs d. rely on insider trading e. none of the above