The concept of economies of scope describes the savings acquired from simultaneous production of different products
a. True
b. False
Indicate whether the statement is true or false
True
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The need for government subsidies of irrigation produced
(a) the Desert Land Act (1877). (b) the Interstate Commerce Commission Act (1887). (c) the Newlands Act (1902). (d) all of the above.
What is GATT and what happened to tariff rates as a result of GATT?
What will be an ideal response?
There is an inverse relationship between inflation and unemployment in the short run and this can be seen as an
A. example of the equality-efficiency trade-off. B. example of the impact of comparative advantage. C. example of macroeconomic policy choices. D. example of an externality. E. example of the use of abstraction in economic analysis.
Explain the main arguments in favor of economic stabilization