Market failure refers to a situation in which the market does not allocate resources efficiently

Which of the following statements regarding the marginal product curve is FALSE?

A) Increasing marginal returns occur only when the total product increases as the number of workers increases. B) Increasing marginal returns is due to greater efficiency from specialization in the production process. C) The law of diminishing returns applies in the short run. D) Along the marginal product curve, increasing marginal returns occur first and then diminishing marginal returns.

Since World War II, the likelihood that any single item in the typical consumption basket of a consumer in the U.S. originated outside of the U.S

A) remained constant. B) increased. C) decreased. D) fluctuated widely with no clear trend. E) increased slightly before dropping off.