Economies of scale and scope encourage free competition.
Answer the following statement true (T) or false (F)
False
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Intraindustry trade tends to be more controversial than interindustry trade
Indicate whether the statement is true or false
The largest asset of the Fed from those on this list is
A) U.S. Treasury securities. B) mortgage-backed securities. C) loans to depository institutions. D) currency outstanding.
In the short run, the point at which average cost is minimized, the line from the origin to the point on the
A) total cost curve is tangent to the curve. B) total cost curve has the largest slope. C) total variable cost curve has the largest slope. D) total variable cost curve has the smallest slope.
Refer to the above figure. Suppose the natural rate of unemployment is 5 percent. If the government tried to reduce unemployment to 4 percent and keep it there, it must
A) raise unemployment benefits. B) accept a permanent inflation rate of 1 percent. C) generate higher and higher inflation rates or else people will adjust their behavior and the unemployment rate will return to 5 percent. D) use contractionary fiscal and expansionary monetary policy.