AP (Advanced Placement) Macroeconomics: Questions 673 - 675 of 750

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Question 673

Question

MCQ▾

As one unit of labor is added with all the other factor of production remaining constant, a point will be reach where the next addition to output will begin to decrease;

Choices

Choice (5)Response

a.

Law of diminishing marginal productivity

b.

Marginal product of capital

c.

Marginal rate of wage

d.

Marginal product of labor

e.

None of the above

Question 674

Appeared in Year: 2020 (NET)

Question

Assertion-Reason▾

Assertion(Ꭺ)

High powered money is the source of all other forms of money that impact money supply (September Evening Shift)

Reason(Ꭱ)

Credit is created by commercial banks

Choices

Choice (5)Response

a.

Both Ꭺ and Ꭱ are true and Ꭱ is the correct explanation of Ꭺ

b.

Both Ꭺ and Ꭱ are true but Ꭱ is NOT the correct explanation of Ꭺ

c.

Ꭺ is true but Ꭱ is false

d.

Ꭺ is false but Ꭱ is true

e.

Both Ꭺ and Ꭱ are false

Question 675

Question

MCQ▾

You learn that one nation has a Gini ratio of 25 and another nation has a Gini ratio of 85. Based on this you might conclude:

Choices

Choice (5)Response

a.

the nation with the lower Gini ratio has more societal barriers like discrimination.

b.

the nation with the lower Gini ratio has more oligopolistic industries.

c.

the nation with the higher Gini ratio has a more unequal distribution of citizens with college degrees.

d.

the nation with the higher Gini ratio has a more equal distribution of wealth and income.

e.

the nation with the higher Gini ratio has fewer societal barriers like discrimination.

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