If a nation experiences a year of unusually high immigration that increases the size of the labor force, we can conclude that the
A. Nation will choose a different point on the production possibilities curve.
B. Nation's capital per worker will rise.
C. Nation's production possibilities curve will shift outward.
D. Nation's production possibilities curve will shift inward.
Answer: C
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If economies of scale exist for a particular production relationship, long-run average costs will
A. rise. B. fall. C. first rise and then fall. D. be unaffected since there is no direct relationship between the two.
Autonomous expenditure is spending that is:
A. based on the rate of borrowing. B. that is determined by the government. C. not sensitive to the level of income in the economy. D. spent when income changes in the economy.
For a firm, marginal revenue minus marginal cost is equal to
a. profit. b. average total cost. c. change in profit. d. change in average revenue.
Discuss research on the role of banks and other financial institutions in the intermediation of funds between lenders and borrowers
What will be an ideal response?