If all inputs are raised by equal percentages and output increases by a larger percentage, there are decreasing returns to scale
Indicate whether the statement is true or false
F
Economics
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All of the following are elements in the structure of the Fed EXCEPT the
A) 12 Federal Reserve Banks. B) presidents of the 12 Federal Reserve Banks. C) Executive Council to the Governor. D) Board of Governors. E) Federal Open Market Committee.
Economics
To produce more output in the short run, a firm must employ more of
A) all its resources. B) its fixed resources. C) its variable resources. D) the least costly resources regardless of whether they are fixed or variable. E) Firms cannot produce more output in the short run.
Economics