________ refers to reductions in a firm's costs that result from an increase in the size of an industry
A) Autarkial dominance B) External economies
C) Streamlining D) Internal economies
B
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If the level of real GDP is $14 trillion while aggregate planned expenditure is $15 trillion, then
A) inventories rise more than planned, leading firms to increase production. B) real GDP increases and planned expenditure decreases reaching equilibrium in the middle. C) aggregate planned expenditure decreases to reach the equilibrium of $14 trillion. D) inventories fall more than planned, leading firms to increase production. E) inventories rise more than planned, leading firms to cut production.
Output prices are irrelevant for a firm as it is calculating its cost curves.
Answer the following statement true (T) or false (F)
In the above figure, the relationship between costs indicates that the distance between curves
A) A and B is equal to the fixed cost. B) A and B is equal to the variable cost. C) B and C is equal to the fixed cost. D) B and C is equal to the average total cost.
The use of money and credit controls to achieve macroeconomic goals is
A. Monetary policy. B. Supply-side policy. C. Eclectic policy. D. Fiscal policy.