The long-run average cost curve is U-shaped because of which of the following?
A) decreasing marginal returns as more labor is hired
B) constant fixed costs as output is increased
C) economies and diseconomies of scale
D) increasing marginal returns as more labor is hired
E) decreasing average fixed costs as output is increased
C
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Which of the following is NOT an economic benefit of depository institutions?
A) They borrow long and lend short. B) They create liquidity. C) They pool risk. D) They reduce the cost of monitoring borrowers.
The sector of the economy experiencing the lowest rate of growth in productivity has been the ________ sector.
Fill in the blank(s) with the appropriate word(s).
Which of the following is most important if the living standards of people residing in a country are going to improve?
A. growth of population B. growth of per capita GDP C. growth of the money supply D. growth of government expenditures as a share of GDP
The percentage of U.S. workers in the private sector who belong to unions is currently
A) greater than 70 percent. B) approximately 55 percent. C) approximately 25 percent. D) approximately 11 percent.