Refer to Figure 11-11. Constant returns to scale
A) occur between 10,000 and 20,000 pictures frames per month.
B) occur for output rates greater than 5,000 picture frames.
C) occur between 5,000 and 20,000 picture frames per month.
D) will shift the long-run average cost curve downward.
A
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The economist who recognized that lags in policy can explain the difficulty in conducting monetary policy was
A) Adam Smith. B) John Nash. C) Milton Friedman. D) Joseph Schumpeter.
When actual investment is less than intended investment, national production and income will fall
Indicate whether the statement is true or false
Recall the Application about the possible link between interest rates and commodity prices worldwide to answer the following question(s).According to this Application, some economists noticed that commodity prices such as oil increased since the summer of 2010. They suggested that the increase in the commodity prices was caused by:
A. expansionary monetary policy used by the U.S. and other major economies. B. expansionary fiscal policy used by the U.S. and other major economies. C. contractionary monetary policy used by the U.S. and other major economies. D. contractionary fiscal policy used by the U.S. and other major economies.
Can you think of explanations beyond those discussed in the text for the relative decline of unionism in the United States?
What will be an ideal response?