"If a variable input is added to some fixed input, beyond some point the resulting extra output will decline." This statement describes: Choose an Answer: A. economies and diseconomies of scale. B. X-inefficiency. C. the law of diminishing returns. D. the
Ten Principles of Economics
The word that comes from the Greek word for one who manages a household is
TYPE: M SECTION: 1 DIFFICULTY: 1
The word economy c
Chapter 2/Thinking Like an Economist 27
Which is the best statement about the way economists study the economy?
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ECON 111.3 ASSIGNMENT 1
30 Multiple Choice (30 marks)
Identify the choice that best completes the statement or answers the question.
_a_ 1. What concept does economics primarily deal with?
_a_ 2. Why do both house
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Student Number: _
QUEENS UNIVERSITY AT KINGSTON
FACULTY OF ARTS AND SCIECE
Department of Economics
ECONOMICS 111*S - Final Examination
April 13, 2009
Instructor: Julia Hui Zhu
Time Limit: 3 Hours
Important! Read the instructions