Under the U.S. General Mining Act of 1872
a. Corporations must pay high royalties for mineral exploitation rights
b. All mineral reserves belong to the U.S. Government
c. Mineral resource conservation is encouraged
d. Royalties for mineral exploitation rights are very low
e. Taxes are imposed on the use of primary resources
Answer: d. Royalties for mineral exploitation rights are very low
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Comparing aggregate expenditure and aggregate incomes shows that
A) aggregate expenditure is usually greater than aggregate income. B) aggregate income is usually greater than aggregate expenditure. C) they are equal. D) aggregate income cannot equal aggregate expenditure if we have any savings.
Diminishing marginal returns means that the firm definitely is experiencing
A) diseconomies of scale. B) constant returns to scale. C) Both answers A and B are correct. D) Neither answer A nor B is correct.