If a firm is experiencing diseconomies of scale, its long-run average cost curve is increasing
Indicate whether the statement is true or false
TRUE
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Which of the following is an example a lack of self-control that contradicts the conclusions of standard economic analysis?
a. Eating more food at an all-you-can-eat buffet b. Playing video games all night even with an exam the following morning that will determine your semester grade c. Decreasing the purchase of steak if the price increases 25% d. all of the above
Mrs. Dodge has $8 million in income and pays no income taxes. Her income is most likely
A. capital gains. B. interest on corporate bonds. C. interest on municipal bonds. D. offset by mortgage interest.
It is possible through trade for a country to consume a combination of goods that lies beyond its production possibilities frontier.
Indicate whether the statement is true or false.
Suppose an expansionary monetary policy reduces nominal interest rates. If this is the case, it follows that the expansionary monetary policy must have:
A. increased expected inflation. B. reduced expected inflation. C. increased expected inflation less than it reduced real interest rates. D. reduced real interest rates less than it increased expected inflation.