If, when a firm doubles all its inputs, its average cost of production increases, then production displays
A) diminishing returns.
B) economies of scale.
C) diseconomies of scale.
D) declining fixed costs.
Answer: C
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Which of the following is a positive incentive?
A. Discover credit cards offer 0 percent balance transfer rates for someone to open a new account. B. McDonalds decides to offer a white chocolate mocha. C. A school teacher decides to retire and focus on gardening. D. A business decides to leave the industry.
A group of farmers in southwestern Pennsylvania selling locally raised natural beef would be identified as a
a. not-for-profit organization b. S corporation c. producer cooperative d. sole proprietorship e. cottage industry
If the CPI increased from 215 to 218 between the years 2012 and 2013, while the nominal interest rate increased from 3.25% to 3.80%, what is the real interest rate in 2013?
Which of the following is an impact of increased illegal immigration on an economy?
A. The rate of inflation in the receiving country increases. B. The demand for government services like education and health care increases. C. The real wage rate of workers increases. D. The demand for labor in the receiving country declines.