A firm gets less efficient as it gets bigger, if it is experiencing:
a. economies of scale.
b. constant returns to scale.
c. increasing returns to factors.
d. diseconomies of scale.
e. a period of post war recovery.
d
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What is the primary reason that the highest quintile's share of the national income increased very rapidly over the last 20 years?
A. Poor people are lazy and do not want to work. B. All of our jobs have been shipped overseas. C. Tax cuts on the property owners and high income citizens. D. High cost of health care.
By far the largest real government budget deficits measured as a percentage of natural real GDP occurred during
A) World War I. B) the Great Depression. C) World War II. D) the late 1960s. E) the late 1980s and early 1990s.
When a second firm enters a monopolist's market,
A. market price will rise. B. the quantity produced by the first firm will increase. C. the first firm's profits will decrease. D. All of these will occur.
If technological advancements reduce the cost of pollution abatement, all else equal:
A. the price of a pollution permit will fall. B. the price of a pollution permit will increase. C. the government will be forced to issue more permits. D. the government will be forced to issue fewer permits.