The distribution process performed by the price system is not as efficient as the distribution process of central planners
a. True
b. False
Indicate whether the statement is true or false
False
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If a consumer's income increases and if all goods are normal goods, explain how the quantity bought of each good changes
What will be an ideal response?
Much of the research on the minimum efficient scale suggests that for many firms, economies of scale are:
A) relatively modest. B) nonexistent. C) substantial. D) heavily dependent on the minimum efficient scale of the firm's production process.
Which of the following is most likely to cause the long-run aggregate supply curve to shift rightward?
a. A rise in energy prices b. A drop in the actual price level c. An increase in the demand for leisure hours d. An increase in the level of investment spending that is less than the depreciation of the capital stock e. A technological breakthrough with widespread practical applications
Explain the distinction between investment and capital