Which of the following is a way in which firms can achieve economies of scale?
a. Increasing the scale of operation
b. Product differentiation
c. Producing different products in the same plant
d. Using more workers than are actually needed
a
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Excess burden is largest with
A. lump-sum taxes. B. unit taxes. C. no taxes. D. all of these answer options are correct.
By requiring that applicants for insurance policies fill out lengthy forms and take a physical examination, insurers attempt to guard against
a. symmetrical information b. adverse selection c. natural selection d. moral hazard e. the winner's curse
Monetary policy consists of
A. actions taken by both the legislative and executive branches of government to control the nation's money supply. B. actions taken by Congress to control the nation's money supply. C. actions taken by the Federal Reserve System to control the nation's money supply. D. actions taken by the executive branch of government to control the nation's money supply.
Saving income that is not consumed
a. true b. false