The most likely explanation for economies of scale is
a. coordination problems.
b. specialization of labor.
c. increasing marginal cost.
d. decreasing marginal cost.
b
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Bonds with no default risk are called
A) flower bonds. B) no-risk bonds. C) default-free bonds. D) zero-risk bonds.
According to the monetarists and new classical economists,
a. only anticipated monetary policy actions will affect output and employment in the short run. b. only unforeseen monetary policy actions will affect output and employment in the short run. c. both anticipated and unanticipated monetary policy actions will affect output and employment in the short run. d. both anticipated and unanticipated monetary policy actions will affect output but not employment in the short run. e. none of the above.
Under the Coinage Act of 1792:
a. gold coins contained more metal than silver coins of the same denomination. b. silver coins contained more metal than gold coins of the same denomination. c. gold coins contained about the same amount of metal as silver coins of the same denomination. d. gold coins were minted only in high denominations and silver coins were minted only in low denominations.
Which of the following is not an example of a business operated by a consumer cooperative?
a. grocery store b. apartment building c. Sunkist, a farm cooperative owned and operated by citrus growers d. health plan e. electric power facility