Minneapolis business Rogue Chocolatier sells specialty chocolate bars with a high cocoa content. Rogue can produce 15 chocolate bars per day with one employee, 35 with 2, 50 with 3 and 55 with 4 employees. Which statement is TRUE?
A) Rogue's marginal product curve initially increases and then decreases.
B) Rogue's marginal product curve decreases continually.
C) Rogue's total product curve increases at an increasing rate.
D) Rogue's marginal product curve decreases initially and then increases.
A
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In the federal funds market diagram, a decrease in the required reserve ratio
A) shifts the demand curve for reserves to the left. B) increases the federal funds rate. C) results in a multiple expansion of deposits, which increases the equilibrium level of reserves held by banks. D) shifts the supply curve for reserves to the right.
The European Union Emission Trading Scheme is an example of:
a. a pollution tax. b. a pollution subsidy. c. a command approach. d. cap and trade. e. enforcing private property rights.