In a typical year, about __________ of bank business loans in the United States are made by foreign-owned banks through their branches here
A) ten percent
B) twenty percent
C) one-third
D) one-half
C
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The marginal physical product of labor is
a. the slope of the total output curve at the relevant point. b. the negative of the slope of the total output curve at the relevant point. c. the slope of the line connecting the origin with the relevant point on the total output curve. d. the negative of the slope of the line connecting the origin with the relevant point on the total output curve.
Which of the following is an implication of the law of diminishing returns?
a. Total output will decline as more workers are hired. b. In the long run, average total cost will eventually decline as output is expanded. c. In the short run, expansion of output will eventually lead to increases in marginal cost and average total cost. d. A doubling of all inputs will lead to more than a doubling of output.