All of the following are reasons for economies of scale EXCEPT
A. specialization.
B. dimensional factors.
C. diminishing marginal product.
D. more efficient production equipment.
Answer: C
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Anita is the retired president of Claddagh College and currently serves on the board of directors of the Patrician Pharmaceutical Company. Anita is considered ________ of the company
A) an outside director B) an inside director C) a managing director D) a silent partner
Currency devaluations help suppliers because they make exports ________ expensive
a. Less b. More c. All of the above d. None of the above
If an economic model includes an assumption that there are only two nations in the world, this would be an example of
a. a critical assumption b. an implicit assumption c. a simplifying assumption d. a concrete assumption e. a detail assumption
A real variable is
a. measured in terms of after-tax dollars b. measured in terms of dollars and not foreign currency c. measured in nominal terms d. measured in terms of current dollars e. measured in terms of purchasing power