If production displays constant returns to scale, then all economies of scale have been exhausted
Indicate whether the statement is true or false
TRUE
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Among the accomplishments of Nobel Laureate Simon Kuznets is his pioneering research on
a. the sunspot theory of cycles b. war-induced cycles c. population-induced cycles d. innovation cycles e. housing cycles
If a firm is using optimal input proportions, it is minimizing its costs
a. True b. False Indicate whether the statement is true or false
Inefficiency in an economy can be caused by
a. misallocating resources. b. underemploying resources. c. discrimination. d. All of the above are correct.
An individual would suffer lower losses from an unexpectedly higher inflation rate if
a. she held much currency and owned few bonds. b. she held much currency and owned many bonds. c. she held little currency and owned few bonds. d. she held little currency and owned many bonds.