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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What matters most to importers and exporters is the nominal exchange rate
Indicate whether the statement is true or false
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