If services are purchased from others that were once performed internally, then a firm has
A) downsized.
B) outsourced.
C) reduced the economies of scope.
D) experienced diseconomies of scale.
B
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Because of assortative mating, wealth becomes ________ and the distribution of wealth becomes more ________
A) more concentrated in a small number of families; equal B) more concentrated in a small number of families; unequal C) spread out among more families; equal D) spread out among more families; unequal
Which of the three product has a unitary elastic demand curve?
a. Cigarettes b. Alcohol c. Sodas d. None of the above
Wealth creating transactions are less likely to occur
a. Without private property rights b. Without contract enforcement c. Both a and b d. None of the above
Which of the following shifts aggregate demand to the right?
a. an increase in the price level b. an increase in the money supply c. a decrease in the price level d. a decrease in the money supply