Increasing the stock of capital while holding the labor force constant will ________ output at a(n) ________ rate
A) decrease; increasing B) increase; increasing
C) increase; decreasing D) decrease; decreasing
C
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In the short run, if the stock of capital ________ there will be more depreciation
A) remains stable B) grows C) declines D) grows, declines, or remains stable
Figure 4-21
Refer to . The price paid by buyers after the tax is imposed is
a.
$18.
b.
$14.
c.
$12.
d.
$8.
The monetary policy transmission mechanism refers to the concept that monetary policy:
A. affects the economy in potentially many ways. B. only works through changes consumption and investment. C. works quickly. D. always seems to work the way central bankers think it will.
Refer to the long-run cost diagram for a firm. If the firm produces output Q 2 at an average cost of ATC 2 , then the firm is:
A. producing the profit-maximizing output but is failing to minimize production costs.
B. incurring X-inefficiency but is producing that output at which all existing economies of scale
might be realized.
C. incurring X-inefficiency and is failing to produce the output at which all economies of scale
might be realized.
D. producing that output with the most efficient combination of inputs and is realizing all
existing economies of scale.