Economies of scale can be caused by all of the following except:
A. price discounts for large scale purchases.
B. labor specialization.
C. use of more productive equipment.
D. increases in the firm's average total cost.
Answer: D
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A resilient market is one in which
A) wide price swings occur when orders decline. B) volume picks up quickly when prices change. C) bid-asked spreads are large. D) volume is large.
The proposition each extra percentage point of cyclical unemployment is associated with about a 2 percent widening of a negative output gap, measured in relation to potential output, is known as:
A. Okun's law. B. the Fisher effect. C. the expansionary gap. D. the recessionary gap.
A decrease in the cost of inputs will shift the supply curve down and to the right.
a. true b. false
What matters most to importers and exporters is the nominal exchange rate
Indicate whether the statement is true or false