If a country has a bowed out (concave to the origin) production possibility frontier, then production is said to be subject to
A) constant opportunity costs.
B) decreasing opportunity costs.
C) first increasing and then decreasing opportunity costs.
D) increasing opportunity costs.
D
Economics
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A firm should hire more workers to increase its profits if
A) the marginal product of labor is greater than the wage the firm will pay these workers. B) there is enough capital and other resources for the workers to use. C) the demand for labor is elastic. D) the wage rate is less than the marginal revenue product of labor.
Economics
Which of the following would not act as an automatic stabilizer?
A) Unemployment insurance B) Government purchases C) Personal income taxes D) Corporate income taxes
Economics