Economies of scope are cost reductions achieved by
A) the production of multiple, related products.
B) the production of large amounts of a single product.
C) limiting the size of the firm.
D) increasing firm size.
A
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When employment discrimination results from the personal prejudices of employers, economic theory suggests that
a. it is costless for employers to discriminate against groups they do not like. b. discrimination by an employer will reduce production costs since the employer can pay lower wages. c. the wages of employees who are discriminated against will actually rise. d. an employer who discriminates will experience higher costs.
A good's nominal price is the:
A. average real price of the good. B. absolute price of the good in dollar terms. C. dollar price of the good relative to the average dollar price of all other goods and services. D. dollar price of the good relative to the real price of all other goods and services.
Which curve in the graph shown below best represents the data in the table?
Refer to the following table which shows the quantities of corn demanded at various levels of corn price (hypothetical data).
A. A
B. B
C. C
D. D
In 2011, the government's total tax revenue as a percent of total output was highest in which of the following nations?
A. Germany B. France C. United States D. Mexico