The law of diminishing returns explains why short-run marginal cost curves are upsloping.

Using the information below for Talking Toys, Inc., determine cost of goods manufactured for the year:

A) $13,000.
B) $44,500.
C) $57,500.
D) $94,500.
E) $52,000.

Production possibilities frontiers cannot be used to illustrate trade-offs.

What are the two dimensions of an organization chart?

A) People and tasks
B) Economic and social power
C) Vertical hierarchy and horizontal specialization
D) Division of labor and coordination
E) Boxes and lines

The major reasons why people immigrate into the U.S. include the following, except

A) taking advantage of superior economic opportunities.
B) escaping religious or political oppression in their home countries.
C) reuniting with family members who are already U.S. immigrants.
D) being kicked out of their home countries.

In the context of followership, which of the following is true of yes people?

A) They think independently and critically, yet are very passive in their behavior.
B) They are the least disruptive and the lowest-risk followers in an organization.
C) They uncritically reinforce the thinking and ideas of their leaders with enthusiasm.
D) They are psychologically and emotionally distanced from their leaders.

Business cycles

A) have been a recurring source of debate to economic theory throughout history.
B) represent a fairly recent problem confronting economic systems.
C) show very regular and smooth patterns of ups-and-downs in economic systems.
D) cannot occur in market-based economic systems.
E) have been increasingly unstable over the past half century.

Additional paid-in capital is reported on the balance sheet as a component of shareholders' equity.