Labor productivity tends to fall as the capital to labor ratio rises
a. True
b. False
Indicate whether the statement is true or false
False
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Proved reserves of petroleum are
a. the verified quantity of petroleum that can be recovered at current prices and levels of technology. b. the only reserves likely to be available in the future. c. refined products awaiting shipment to the market. d. the total amount of the resource in existence, regardless of the productive effort undertaken to expand the future availability of the resource.
A local restaurant offers an "all you can eat" barbeque special. You pay $9.00, and then you can eat as many servings as you desire at no additional cost. It would follow that you will stop eating when
a. your marginal utility (or value) derived from eating another serving is zero. b. your total utility (or value) derived from all of the servings consumed just equals $9.00. c. your marginal utility (or value) derived from another serving equals $9.00. d. it is physically impossible for you to eat any more.