When the marginal product of labor diminishes,
a. average fixed cost rises.
b. average variable cost is constant.
c. marginal cost rises.
d. average total cost must rise.
e. total cost rises at a diminishing rate.
C
Economics
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If money is used as a mechanism to hold purchasing power for a period of time it is functioning as a
A) unit of account. B) medium of exchange. C) store of value. D) standard of value.
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Monetary policy is more effective when:
A. it is contractionary. B. it is expansionary. C. the exchange rate is fixed. D. the exchange rate is floating.
Economics