Workers who are ______ productive will be in ______ demand and better paid than ______ productive workers.

The first phase of a typical cycle of economic populism is usually

A) hyperinflation. B) rising growth and rising wages. C) falling growth and falling wages. D) rising unemployment. E) severe disinflation.

Which of these is true of the law of diminishing marginal returns?

a. It is a long run phenomena where all inputs are variable. b. It applies mostly to the short run because some inputs remain fixed. c. It is a long run phenomena experienced under monopoly. d. It applies to fixed inputs in the long run. e. It applies to fixed inputs in the short run.