Sources of ________ include larger industry size resulting in lower production costs.
A. internal constant returns to scale
B. external diseconomies of scale
C. internal diseconomies of scale
D. external economies of scale
Answer: D
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Given the data in Scenario 14.3, how much labor should the firm employ if labor costs $30 a unit?
A) 3 units of labor B) 4 units of labor C) 5 units of labor D) 6 units of labor E) 7 units of labor
How do rational behavior and self-interest relate?
a. Self-interest rarely motivates people to use rational behavior to make decisions. b. Self-interest is rational when it is selfless, but not selfish. c. Self-interest usually motivates people to use rational behavior to make decisions. d. Self-interest is rational when it is selfish, but not when it is selfless.
Technological change, such as the information technology revolution of the 1990s can shift the aggregate supply curve outward. If, at the same time, the government is decreasing spending, the most likely outcome of these two factors is a(n)
A. increase in the price level. B. decrease in the price level. C. increase in real GDP. D. decrease in real GDP.
In the United States from 1981 to 2015, deaths from all of the following declined substantially except
A) cancer. B) kidney disease. C) heart attacks. D) strokes.