Economies of scale often arise because higher production levels allow specialization among workers
a. True
b. False
Indicate whether the statement is true or false
True
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An increase in capital inflows will
A) increase the equilibrium exchange rate. B) increase net foreign investment. C) increase capital outflows. D) decrease capital outflows.
The processes used to produce goods and services describes
A) technology. B) entrepreneurship. C) capital. D) innovation.
Inflation has no effect on an economy's well-being if
A) it is universally and accurately anticipated. B) relative prices are unaffected. C) the nominal rate of interest for both savers and borrowers rises by an amount just equal to the rate of inflation. D) all of these
Recall the Application about craft beer and the increase in the price of hops to answer the following question(s).Hops are substitutes in the production of beer.
Answer the following statement true (T) or false (F)