When the production process is subject to increasing returns to scale, the returns to a variable factor of production:

Consider the following information: National Income at current prices for the year Y1 = $30 billion USD National Income at current prices for the year Y2 = $80 billion USD Price Index for Y1 = 150 Price Index for Y2 = 200 What should be the National Income at constant prices for the year Y2?

________________ is a market structure in which many sellers sell differentiated products.

The vertical distance between the average total cost curve and the average variable cost curves tends to __________ as the production increases beyond a point.

In most developing countries, ________.

In many large u.s. cities, taxicab companies operate as near monopolies because of_____.

From where does the demand for funds arise according to the loanable fund theory?

If the supply of labour and capital of a country grow in the same proportion as before but the technology remains the same, the production possibility curve of the country would shift outwards:

Fixed and variable costs are distinguished from each other in terms of:

What would be the National Product at market prices for a certain year, if the National Product at factor cost is 4 billion USD, Indirect taxes are $1 billion USD and subsidies are $0.25 billion USD?

There are _____________ approaches to analyze devaluation.