Statistical discrimination is when you take action to:
A. reveal private information about someone else.
B. reveal one's own private information.
C. find out the opportunity cost of acquiring more information.
D. fill gaps in your information by generalizing based on observable characteristics.
D. fill gaps in your information by generalizing based on observable characteristics.
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Use the following table to answer the next question.OutputATC-1ATC-2ATC-3ATC-41,500$10$15$20$302,00091217252,50081015203,00012713183,50015611164,00018107144,50020128125,00024151195,500291913126,00035251514Plant sizes get larger as you move from ATC-1 to ATC-4.At what level of output are economies of scale exhausted by this firm?
A. 3,500 units B. 4,000 units C. 2,500 units D. 5,500 units
Probably the most important source of efficiency in production is
A. investing in more capital goods. B. consuming rationally. C. expanding the production possibilities frontier. D. increasing inputs of energy and raw materials. E. the specialization of labor.
Between 1981 and 1986, as the federal budget deficit increased,
a. consumption spending fell. b. investment spending was crowded out. c. net exports increased. d. net exports were crowded out.
Economic models
a. are not useful because they omit many real-world details. b. are usually composed of diagrams and equations. c. are useful because they do not omit any real-world details. d. are usually plastic representations of the economy.