With economies of scale came
A) larger families.
B) simpler business forms.
C) the need for management structures beyond what a family could offer.
D) fewer economies of scope.
C
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The rate at which a price index decreases is referred to as the:
A) cross inflation rate. B) deflation rate. C) reverse inflation rate. D) depreciation rate.
If the short-run aggregate supply increases by less than the long-run aggregate supply, then, at the short-run equilibrium,
A) GDP will be above potential GDP. B) aggregate demand will increase. C) GDP will be below potential GDP. D) GDP will be equal to potential GDP.
The revenue curves that a monopoly faces are different from those that a perfectly competitive firm faces in that the:
A. average revenue curve is no longer equal to price. B. total revenue curve for a monopoly is linear. C. marginal revenue curve is downward sloping instead of flat. D. marginal revenue curve is now flat instead of downward sloping.
A positive balance of trade is when ___________.
Fill in the blank(s) with the appropriate word(s).