Economic rent applies to
A) land only and nothing else.
B) real property only.
C) all resources.
D) any resource in fixed supply.
D
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An open market sale of U.S. Treasury securities by the Fed will cause the Fed's balance sheet to show:
A. an increase in the asset category of securities and the liability category of reserves. B. a decrease in the asset of securities and a decrease in the liability of reserves. C. no change in the size of the balance sheet, just the composition of assets will change from securities to cash. D. an increase in the liability of reserves.
The production function in the table below exhibits decreasing marginal returns to capital over what output range? Production Function for Good XL*KQMPK=(?Q/?K)APK=(Q/K)LaborCapitalOutputMarginal Product of CapitalAverage Product of Capital900----910575.75.7092032426.716.2093065733.3B9401,07241.526.809501,52445.230.489601,97645.232.939702,39141.534.169802,72433.334.059902,991A33.2391003,0485.730.4891103,016-3.227.4291202,945-7.124.54
A. Between 0 and 1,524 B. Between 3,016 and 2,945 C. Between 0 and 2,991 D. Between 2,391 and 3,048