Table 7-1
Workers Toys1 5212322430535?
?
?
In Table 7-1, the marginal physical product begins to diminish with the addition of the
A. second worker.
B. third worker.
C. fourth worker.
D. Marginal returns never diminish in Table 7-1.
Answer: C
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According to the text, which of the following is a principal reason why firms merge?
a. to form a cartel b. to exercise greater market control c. to increase their product differentiation d. to decrease their product differentiation e. to become a monopoly
A bank loans Greg's Ice Cream $250,000 to remodel a building near campus to use as a new store. On their respective balance sheets, this loan is
a. a liability for the bank and an asset for Greg's Ice Cream. The loan increases the money supply. b. a liability for the bank and an asset for Greg's Ice Cream. The loan does not increase the money supply. c. an asset for the bank and a liability for Greg's Ice Cream. The loan increases the money supply. d. an asset for the bank and a liability for Greg's Ice Cream. The loan does not increase the money supply.