All of the following are government purchases except
A) the salary paid to Senator John Cornyn of Texas.
B) the presidential pension paid to former President George H.W. Bush.
C) the purchase of a new office building for the CIA.
D) the purchase of new radar tracking equipment for the Navy.
B
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What is Y - S equal to?
A) I B) C - T C) I + G D) C
A firm finds that producing 30,000 vases costs $180,000 and producing 40,000 vases costs $200,000. This pattern might be explained by:
A. diminishing marginal productivity. B. economies of scope. C. economies of scale. D. diseconomies of scale.
Refer to the graph shown. Suppose the economy is initially at A but then the Fed adopts a contractionary monetary policy. The long-term effect of this policy will be to move the economy to:
A. E. B. B. C. C. D. D.
One of the strongest reasons that oligopolies exist is due to
A) the homogeneity of their products. B) marginal cost pricing. C) lowest cost production. D) economies of scale.