Process innovation causes an upward shift in a firm's total product curve and:
A. a decrease in its average product.
B. a downward shift in its average total cost curve.
C. an upward shift in its average total cost curve.
D. an upward shift in its marginal revenue curve.
Answer: B
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An airlines realizes that instead of offering free checked in baggage, they could put a charge on checked baggage without the demand for the tickets decreasing. The space saved can be used to carry priority mail packages, with hardly any additional costs. The airlines has realized
a. Economies of scale b. Economies of scope c. Diseconomies of scale d. Diseconomies of scope
Which of the following forms of money is the least liquid?
A. dollars B. checking account deposits C. passbook savings D. certificates of deposit
This Application addresses the idea that
A) imports ultimately have a positive impact on all communities. B) imports have a bigger impact on some communities than on others. C) imports are only beneficial to a community if they are equally matched by exports from that community. D) imports have an equal impact on all communities.
All of the following actions shift the aggregate demand curve to the right EXCEPT
A) the Fed raises the interest rate. B) an increase in government transfer payments. C) inflation is expected to rise next year. D) an increase in expected future profit. E) a decrease in taxes.