If the long-run average total cost curve is rising as output increases, then the firm faces diseconomies of scale.
Answer the following statement true (T) or false (F)
True
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Refer to Table 2-5. Assume Nadia's Neckware only produces ascots and bowties. A combination of 16 ascots and 6 bowties would appear
A) along Nadia's production possibilities frontier. B) inside Nadia's production possibilities frontier. C) outside Nadia's production possibilities frontier. D) at the horizontal intercept of Nadia's production possibilities frontier.
If the economy is on the LM curve, but is to the right of the IS curve, then the ________ market is in equilibrium, but aggregate ________ exceeds aggregate ________
A) goods; output; demand B) goods; demand; output C) money; output; demand D) money; demand; output
Since the 1870's, the decade with the slowest average annual percent growth rate in labor productivity was the 1970's
Indicate whether the statement is true or false
Actions by the federal government that decrease the progressivity of the tax system:
A. decrease the amount of government spending. B. increase the effects of automatic stabilizers. C. increase the amount of taxation. D. decrease the effects of automatic stabilizers.