Minimum efficient scale is the level of output at which
a. short-run average total cost stops decreasing
b. short-run average total cost stops increasing
c. long-run average cost stops decreasing
d. long-run average cost stops increasing
e. profit stops increasing
C
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The free rider problem is an economic issues associated with
a. Public Goods b. Negative externalities c. Social cost d. Marginal Benefits
Aggregate expenditure includes consumption spending, planned investment spending, government purchases, and net exports
Indicate whether the statement is true or false
The banking system operates in such a way that in recessions, when loans (investments) are needed to stimulate economic activity, the system does not generate those loans
Indicate whether the statement is true or false
Which of the following is not a true statement about the foreign exchange market?
a. Trading for foreign exchange is conducted without interruption (24 hours a day) during the workweek. b. Prices for foreign currencies are the usually same throughout the world. c. Bid-ask-spreads are bigger in the wholesale than in the retail market for foreign exchange. d. The wholesale volume surpasses the retail volume by a huge margin.