A firm that wants to achieve economies of scale could do so by
a. assigning limited tasks to its employees, so they can master those tasks.
b. employing a smaller number of workers.
c. producing a smaller quantity of output.
d. producing an output level higher than the efficient scale.
a
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The distinguishing features of oligopoly are ________ and a ________ in the industry
A) barriers to entry; large number of firms B) no barriers to entry; few firms C) barriers to entry; few firms D) no barriers to entry; large number of firms
The Chicago Board of Trade promotes liquidity in the futures market by
A) setting prices. B) establishing a price floor. C) allowing the short or the long to renegotiate contract terms. D) standardizing contract terms.
According to growth accounting estimates, during the 1929-1982 period, increases in capital and labor account for about ______ of total growth
a. 0 percent. b. 25 percent. c. 50 percent. d. 90 percent. e. none of the above.
Aggregate expenditure means total or combined spending
a. True b. False Indicate whether the statement is true or false