When economic or political conditions are unstable,
a. the price of gold rises to $850 per ounce.
b. the supply of gold decreases.
c. the price of gold decreases.
d. the demand for gold increases.
Answer: d. the demand for gold increases.
Economics
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Which of the following is true at the point where diminishing returns set in?
a. Both marginal product and marginal cost are at a maximum. b. Both marginal product and marginal cost are at a minimum. c. Marginal product is at a maximum and marginal cost at a minimum. d. Marginal product is at a minimum and marginal cost at a maximum.
Economics
Production costs to an economist:
A. consist only of explicit costs. B. reflect opportunity costs. C. never reflect monetary outlays. D. always reflect monetary outlays.
Economics