Any firm that has economies of scale will
A. Be able to produce at a lower unit cost as it increases production.
B. Prefer to produce a small amount of total industry output.
C. Face an upward-sloping long-run average total cost curve.
D. Try to spread production over many plants.
Answer: A
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An example of moral hazard is
a. workers working diligently even though the boss is not looking b. health care insured dieting and exercising c. drivers of safer cars texting on their phones while driving d. borrowers investing their loan proceeds exactly as the bank requires
If a country has a net capital inflow, it means they have:
A. a trade surplus. B. a trade deficit. C. more exports than imports. D. more capital goods flowing into their country than out of it.
When management and union leaders negotiate but cannot reach an agreement, either one may call for a(n)
A. grievance. B. injunction. C. arbitrator. D. probation.
Suppose that both the supply of iPads and the demand for iPads decrease. One can predict that the:
A. equilibrium price and quantity will rise. B. equilibrium quantity will fall, but the change in equilibrium price is uncertain. C. equilibrium price and quantity will fall. D. equilibrium price will rise, but the change in equilibrium quantity is uncertain.