What does it mean if an industry has external diseconomies?
What will be an ideal response?
There are external diseconomies in an industry if long-run average costs rise as the size of the industry increases.
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The question "How are goods and services produced?" most closely addresses which of the following issues?
A) Should Ford build SUVs or luxury cars? B) Should Ford use expensive industrial robots or inexpensive Mexican autoworkers to produce SUVs? C) Should contractors build residential housing or shopping malls? D) Is income distributed fairly in the United States? E) Why are Christmas trees popular only in December?
Federal Deposit Insurance Corporation protection of deposits
a. increases the likelihood of bank runs b. increases bankers' incentives to be cautious with depositors' money c. reduces bankers' incentives to be cautious with depositors' money d. lessens the need for the Fed to regulate banking activity e. began in 1913 with the creation of the Fed
The post hoc, ergo propter hoc fallacy consists of:
A. Using an example to "prove" a different point B. Inferring causality from chronological sequence C. Jumping to conclusions from an inadequate number of cases D. Arguing for or against a person's character rather than his view or opinion
Contrast the classical and Keynesian views of unemployment.
What will be an ideal response?