A grocery shopper considers "eliminating" the middleman. What might she do?
A) Raise her own cows, slaughter them, and butcher her own meat.
B) Grow her own wheat, mill it into flour, and bake her own bread.
C) Build her own fishing boat and begin halibut fishing.
D) All of the above.
D
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Where there are internal economies of scale, the scale of production possible in a country is constrained by
A) the size of the domestic plus the foreign market. B) the size of the country. C) the size of the trading partner's country. D) the size of the domestic market. E) the size of the foreign market.
Unexpected and large deflation is desirable, according to the Friedman rule
a. True b. False Indicate whether the statement is true or false
Frictional unemployment is thought to explain relatively
a. short spells of unemployment, as is structural unemployment. b. long spells of unemployment, as is structural unemployment. c. short spells of unemployment, while structural unemployment is thought to explain relatively long spells of unemployment. d. long spells of unemployment, while structural unemployment is thought to explain relatively short spells of unemployment.
The standard of living rises when population growth exceeds economic growth.
Answer the following statement true (T) or false (F)