Varying plant sizes are shown graphically by
A. economies of scale.
B. diseconomies of scale.
C. the long-run average costs curve.
D. diminishing returns.
E. negative returns.
C. the long-run average costs curve.
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A relative price is the product of two money prices
Indicate whether the statement is true or false
Business cycles will occur if either of the two theories below characterizes the behavior of the economy:
A) the classical or the Keynesian theories of aggregate demand. B) the classical or the real balance theory. C) deflation impotence or rigid nominal wages. D) A and C.
How will an increase in the level of human capital, ceteris paribus, affect an economy's production possibilities curve?
A. Shift the curve inward. B. Result in a movement from inside the curve to a point on the curve. C. Result in a movement along the curve. D. Shift the curve outward.
Refer to the information provided in Figure 6.9 below to answer the question(s) that follow.
Figure 6.9Refer to Figure 6.9. The marginal utility of the fourth video game rental is
A. 0. B. 4. C. 8. D. 22.