Farmers rotate their crops between corn and soybean to increase crop yields. This behavior exhibits
a. Economies of scale
b. Economies of scope
c. Diseconomies of scale
d. Diseconomies of scope
b
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A sudden rise in the market demand in a competitive industry leads to
a. A market equilibrium price higher than the original equilibrium in the short-run b. A market equilibrium price equal to the original equilibrium in the long-run c. Both a and b d. None of the above
U.S. savings bonds and corporate bonds are referred to by economists as unearned money
Indicate whether the statement is true or false
The basket of goods in the consumer price index changes
a. occasionally, as does the group of goods used to compute the GDP deflator. b. automatically, as does the group of goods used to compute the GDP deflator. c. occasionally, whereas the group of goods used to compute the GDP deflator changes automatically. d. automatically, whereas the group of goods used to compute the GDP deflator changes occasionally.
A landlord requiring potential tenants to provide a rental history is an example of:
A. signaling. B. building a reputation. C. screening. D. statistical discrimination.