A horizontal long-run industry supply curve occurs under conditions of
a. economies of scale
b. diseconomies of scale
c. monopoly
d. increasing costs
e. constant costs
E
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What behavior by central and private banks in euro zone countries created the conditions for the 2009 euro crisis?
What will be an ideal response?
Early in the 20th century the American Medical Association strongly encouraged _____
a. HMOs b. Medicare c. Medicaid d. fee-for-service medical care
Suppose a country imposes new restrictions on how many hours people can work. If these restrictions reduce the total number of hours worked in the economy, but all other factors that determine output are held fixed, then
a. productivity and output both rise. b. productivity rises and output falls. c. productivity falls and output rises. d. productivity and output fall.
As the interest rate __________, the opportunity cost of holding money __________ and individuals choose to hold __________ money
A) increases; increases; more B) increases; decreases; more C) increases; decreases; less D) decreases; increases; more E) decreases; decreases; more