Economies of scale can be caused by all of the following except:
a. price discounts for large scale purchases.
b. labor specialization.
c. use of more productive equipment.
d. increases in the firm's average total cost.
e. more cost-efficient methods of marketing.
d
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What are some criticisms of the CPI as a measure of inflation?
If a good is normal, then an increase in income will result in a(n)
a. increase in the demand for the good. b. decrease in the demand for the good. c. movement down and to the right along the demand curve for the good. d. movement up and to the left along the demand curve for the good.
A natural experiment always has a control group, which is affected by the policy change, and a treatment group, which is not affected by the policy change.
Answer the following statement true (T) or false (F)
What kind of changes would be expected in the demand of a country that has an increasing population?
a. a rise in the demand for recreation b. a shift in the demand for high-quality food c. a rise in the demand for shelter d. a lowering in the demand for automobiles