In an exogenous growth model, growth is caused by
A) capital accumulation.
B) government policies.
C) human capital accumulation.
D) forces that are not explained by the model itself.
D
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Economies of scope exist when a business becomes more efficient by
A) offering fewer services. B) offering more services. C) becoming larger. D) becoming smaller.
Under the total revenue and total cost approach to profit maximization,
a. firms equate total variable cost to total revenue in order to maximize profit b. profit is maximized when fixed cost falls to zero c. firms choose the level of output at which total revenue is the greatest distance above total cost when the firm earns an economic profit d. firms choose the level of output at which the changes in revenue and cost both equal zero e. total revenue is maximized when profit is zero
Another term for externality is:
a. attractive nuisance. c. spillover. c. pollutant. d. partnership.
If the interest rate increases, the opportunity cost of holding money __________, and the quantity demanded of money __________
A) does not change; does not change B) increases; also increases C) decreases; increases D) increases; decreases E) decreases; also decreases