Two ways to postpone diminishing returns are:
a. Increase labor and improve education.
b. Increase all resources together and make the production process more efficient.
c. Actually, there is no way to postpone diminishing returns.
d. Keep the government budget balanced and increase the money supply at a rate that keeps inflation low (e.g., at 2% or whatever the national goal happens to be).
e. Increase the quantity of capital.
.B
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One advantage to using gold as the basis for a currency is that
A) the supply of gold is rather constant over time. B) gold is considered valuable by everyone. C) gold is an important raw material for production. D) gold is easily minted into coins.
The Keynesian aggregate supply schedule slopes upward because of
a. unstable expectations. b. inflexible wages and prices. c. changes in technology. d. differences between actual and expected price levels.