Which form of returns to specialization means that the units of resources required to produce one unit are assumed to remain the same no matter where a country is on the production possibilities frontier?
What will be an ideal response?
constant
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Let's get our money supplies in their correct categories: M2 is equal to M1 plus
a. savings deposits, money market deposit accounts, small time deposits, and Eurodollars b. savings deposits, money market deposit accounts, money market mutual funds, and Eurodollars c. small time deposits, money market deposit accounts, money market mutual funds, and Eurodollars d. savings deposits, small time deposits, money market deposit accounts, money market mutual funds, and repurchase agreements e. money market mutual funds, money market deposit accounts, savings deposits, large time deposits, and repurchase agreements
A perfectly competitive firm earns an economic profit when:
a. price is above average variable cost. b. price is above average total cost. c. total cost exceeds total revenue. d. total variable cost exceeds total revenue.
In the United States during the 1960s, government spending dramatically increased to fight the Vietnam War, which resulted in:
A. demand-pull inflation. B. cost-push inflation. C. a disinflationary recession. D. stagflation.
An industry consists of four firms with annual sales of $3,000, $5,000, $4,000, and $6,000. What is the industry's HHI?
A. 10,000. B. 1,659. C. 2,654. D. There is not sufficient information to compute the industry HHI.