The study of factors that contribute to the economic growth of a country is known as
A) savings economics. B) entrepreneurial economics.
C) natural resource economics. D) development economics.
D
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Diseconomies of scale exist for all of the following reasons except
a. bureaucratic inefficiencies b. management problems c. failures in information flows d. firm size is too small e. organizational problems
Which statement best summarizes the invisible hand theorem?
A. Government policies direct people's selfish desires (tempered by social and economic forces) to the benefit of society. B. Markets direct people's selfish desires (tempered by political and social forces) to the common good. C. Cultural norms direct people's selfish desires (tempered by political and economic forces) to the common good. D. Social, political, and economic forces act against people's selfish desires to promote the common good.
The 45-degree reference line indicates all points at which
A) planned real saving and planned real investment are equal. B) planned real saving and planned real saving are equal. C) planned real consumption expenditures and real GDP are equal. D) planned real consumption expenditures and planned real saving are equal.
In the one-input model, the cost curve is the inverse of the production frontier if and only if the input price is 1.
Answer the following statement true (T) or false (F)