A common source of diseconomies of scale is the
A) diminishing marginal returns to capital.
B) diminishing marginal returns to labor.
C) diminishing marginal returns to land.
D) growing complexity of management and organizational structure.
D
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Product improvements make it difficult for the statisticians who construct the CPI to distinguish between ________ changes and ________ changes.
A. price; quality B. income; price C. quantity; quality D. quantity; price
A widget producer is deciding whether to compensate widget makers on a salary basis or a per unit basis. Given that it is difficult to monitor shirking, which of these pay schedules would provide stronger performance incentives?
a. Per piece compensation b. Salary c. Both of them d. Neither of them
A restriction of imports that is accomplished by a quota normally
a. can be accomplished also by a tariff. b. cannot be replicated exactly by imposing a tariff. c. can be accomplished also by an export subsidy. d. can be accomplished also by negotiations within GATT.
Compared to a barter economy, an economy that uses money will
A. have more output. B. have more corruption. C. be poorer. D. be greedier.