Economies of scale are created by greater efficiency of capital and by:
A. longer chains of command in management.
B. better wages for labor.
C. smaller plant sizes.
D. increased specialization of labor.
Answer: D
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The money demand curve shifts to the right when
a. there is an increase in the riskiness of interest-bearing assets. b. there is a decrease in the interest rate. c. income decreases. d. income increases. e. both a and d.
In most markets, scarce goods or services are rationed among competing users using:
A. private organizations. B. government organizations. C. non-monetary prices. D. monetary prices.
Secondary reserves consist of (1) _______; (2) _______; (3) ________; and (4) _______.
Fill in the blank(s) with the appropriate word(s).
As uncertainty about the effects of policy on output decreases, we would expect that
A) policy makers would be more frequently implement fine tuning policies. B) policy makers would implement more active policies. C) policy makers would implement less active policies. D) both A and B E) both A and C