Between 1929 and 1982, according to Edward Denison, approximately
a. one-fourth of the growth in output was due to the increase in the quantity of labor.
b. one-third of the growth in output came from an increase in the quantity of labor.
c. forty-five percent of the growth in output was credited to an increase in the quantity of labor.
d. ten percent of the growth in output was responsible for the increase in the quantity of labor.
A
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If a firm's long-run average total curve shows that it can produce 5,000 DVDs at an average cost of $2.00 and 15,000 DVDs at an average cost of $1.50, this is evidence of
A) economies of scale. B) the law of supply. C) diminishing returns. D) diseconomies of scale.
During the colonial period, the English permitted both silver and gold to move freely in and out of the colonies
Indicate whether the statement is true or false