Which of the following is a reason why firms may be more efficient than markets as coordinators of economic activity?
A) economies of scale and scope
B) lower transactions costs
C) economies of team production
D) all of the above
D
You might also like to view...
When economists value rewards that will be experienced in the future, they multiply the reward by a:
A) positive factor more than 1. B) positive factor less than 1. C) negative factor more than -1. D) negative factor less than -1.
If unemployment equals the natural unemployment rate, then there
A) is zero unemployment. B) is only frictional or structural unemployment. C) are no job openings existing at the time. D) is less than full employment.
There is a firm basis for specifying what a family's minimum needs are
Indicate whether the statement is true or false
In the simple Keynesian model, the aggregate supply curve has a horizontal segment at levels of output below the level of natural Real GDP and a vertical segment at the level of natural Real GDP
Indicate whether the statement is true or false