Since a large and a small wind turbine have the same installation, operating, and maintenance costs, but a large turbine has four times the generating capacity but costs less than three times as much as a small turbine, the wind power industry faces decreasing returns to scale.
Answer the following statement true (T) or false (F)
False
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Adoption of a currency board
A) is one method for achieving a soft peg policy. B) places responsibility for exchange rate management in the hands of an agency that is independent of political influences. C) mandates the use of currency in all domestic transactions. D) requires that a centralized institution holds interest-bearing assets denominated in the currency against which the nominal exchange rate is being fixed.
What is NOT a lagging indicator ?
Explain how the listed events (a-d) would affect the following at Hilton Hotels. i. Marginal cost ii. Average variable cost iii. Average fixed cost iv. Average total cost
a. Hilton decides on an across-the-board 5 percent increase in executive salaries. b. Hilton decides to eliminate all print advertising. c. Hilton signs a new contract with the Culinary Workers Union that requires the company to increase wages for all its kitchen workers. d. The federal government starts to levy a $5 room tax on all hotel rooms.
If a decrease in income leads to an increase in the demand for macaroni, then macaroni is
A) an inferior good. B) a neutral good. C) a necessity. D) a normal good.