The table above shows the total product schedule for Rick's Lawn Service, a yard care company. The total product schedule shows
A) increasing marginal returns when the 6th worker is hired.
B) decreasing marginal returns when the 1st worker is hired.
C) first increasing and then decreasing marginal returns.
D) output first increases then increases.
E) only decreasing marginal returns.
C
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A decrease in government purchases can close an expansionary gap by shifting the aggregate demand curve
a. True b. False Indicate whether the statement is true or false
Pork can be used to produce bacon or sausage, but not both. If the price of bacon rises for some reason, then, everything else equal,
a. the price of sausage will rise. b. the price of sausage will fall. c. the resources used in raising Pork will become more expensive. d. the resources used in raising Pork will become less expensive.