In the above figure, economies of scale are present up to an output level of
A) 5,000 pounds of coffee.
B) 10,000 pounds of coffee.
C) 13,000 pounds of coffee.
D) 15,000 pounds of coffee.
B
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Net public debt is the
A) difference between tax revenues and government expenditures each year. B) sum of accumulated government deficits and surpluses held by individuals and businesses and foreign institutions. C) sum of accumulated government deficits and surpluses held by U.S. government agencies. D) sum of accumulated government deficits and surpluses held by large money center banks.
National income: a. is a measure of the income earned by owners of resources used in making final goods and services. b. is a measure of the income received by persons after taxes
c. equals aggregate income minus the statistical discrepancy. d. equals GDP minus depreciation.
Choose the letter below that best represents the type of shift that would occur in the following situation in the United States: In 2001 interest rates dropped to 40-year lows, which decreased the cost of borrowing for consumers. (See Figure 8.6.)
A. A. B. B. C. C. D. D.
Individuals who specialize in activities that lower transaction costs are
A) consumers. B) producers. C) bureaucrats. D) middlemen.