Draw a long-run average cost curve that first exhibits increasing returns to scale (economies of scale), then constant returns to scale, and finally decreasing returns to scale (diseconomies of scale). Label each region.
What will be an ideal response?
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An increase in real net exports leads to an increase in real GDP. Further
A) real consumption spending increases while real investment spending decreases. B) real government spending decreases to offset the increase in real net exports. C) real consumption spending and real saving increase. D) real consumption spending increases but real saving does not change.
Refer to the figure above. If the price of a table is $2, what is John's income?
A) $20 B) $40 C) $60 D) $80
A good is non-rival in consumption if ________
A) one person's use of the good does not preclude consumption by others B) the government can regulate its production C) people cannot be prevented from using it D) the demand for the good increases with an increase in the consumer's income
Revenue from a(n) __________ goes to the U.S. government while revenue from a(n) __________ goes to whomever secures the right to sell foreign goods in the U.S. market
a. export subsidy, quota b. tariff, quota c. domestic content requirement, low-interest loan d. tariff, export subsidy e. quota, tariff