Refer to the figure above. What does the slope of the aggregate production function imply?
A) Decreasing returns to scale B) Diminishing marginal product of capital
C) Diminishing marginal product of labor D) Increasing returns to scale
C
Economics
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If General Electric finds that when it doubles both its plant size and the amount of associated inputs, its output level does not double, then
a. the law of diminishing returns is in effect b. long-run average costs must be decreasing c. the firm is experiencing diseconomies of scale d. the firm should increase production e. the firm is experiencing constant returns to scale
Economics
The buying and selling of government securities by the Fed is known as:
a. open market operations. b. federal bond operations. c. treasury bond operations. d. open bonds operations. e. discount rate operations.
Economics