The law of diminishing returns applies to which of the following segments of the marginal product of labor curve?

a. The point where labor input is zero.
b. The downward-sloping segment only.
c. The entire curve.
d. The upward sloping segment only.

b

Economics

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Classify the following goods as private goods, common pool resources, club goods, or public goods

a. Health insurance b. Radio spectrum c. A video on YouTube d. A mosquito control program in a city e. A library's collection of e-books

Economics

An open economy

A) can save only by building up its capital stock. B) can save only by acquiring foreign wealth. C) cannot save either by building up its capital stock or by acquiring foreign wealth. D) can save either by building up its capital stock or by acquiring foreign wealth. E) can save by avoiding excessive imports.

Economics