As the accounting industry expands, the demand for certified public accountants (CPAs) also increases, which causes the salaries of CPAs to increase. This is an example of
A. diseconomies of scale.
B. increasing marginal returns.
C. economies of scale.
D. constant returns to scale.
Answer: A
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Suppose the price of an iPad is $500 in the U.S, and 30,000 rupees in India. If an iPad is representative of average prices within a country, then the price of a basket of goods worth $1 in the U.S. costs ________
A) 100 rupees in India B) 60 rupees in India. C) 2 rupees in India D) 0.17 rupees in India
Marginal utility theory predicts that if a consumer's income decreases, the consumer
A) buys fewer normal goods. B) buys fewer inferior goods. C) buys more of all goods. D) might either increase or decrease purchases of normal goods.
People complain that inflation increases the cost of goods and services and therefore reduces their purchasing power. If inflation and income grow at the same rate, is this complaint valid? Explain carefully
What will be an ideal response?
Government intervention that aims to promote technology-enhancing industries is called
a. assisted technology. b. intervention policy. c. industrial technology assistance. d. industrial policy.