Economies of scope refer to
A) changes in technology.
B) the very long run.
C) multiproduct firms.
D) single product firms that utilize multiple plants.
E) short-run economies of scale.
C
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The real wage is the:
A. the ratio of wage of unskilled workers to the wage of skilled workers. B. marginal product of labor. C. supply of labor. D. price of labor.
Canada is classified by the International Monetary Fund as
A) an advanced economy. B) a developing economy. C) a transition economy. D) an emerging market economy. E) a natural-resource based economy.
Under what conditions is it likely that the labor supply curve may become backward bending? What roles do the income and substitution effects play?
What will be an ideal response?
Paying interest on external government debt rather than on domestic debt produces:
A. a redistribution of income within the country. B. no change in the level or distribution of domestic income. C. a net reduction in domestic income. D. a net increase in domestic income.