If Dell Computer Company could produce more computers at lower long-run average cost by increasing the quantity of all the inputs it uses, Dell definitely would experience
A) decreasing marginal returns.
B) diseconomies of scale.
C) increasing marginal returns.
D) economies of scale.
D
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Refer to Figure 12-6. Which of the following statements is true?
A) Jason should produce where MC equals $3 (point d) where he will minimize his losses. B) Jason cannot earn a profit from selling any number of apples. C) Jason should produce where MC equals $3 (point d) where he will maximize his profit. D) Jason should produce where the distance between MC and his demand curve is greatest (point b).
Government purchases include all of the following except:
A. the purchase of new military hardware by the U.S. Army. B. the construction of a new court house built by a county government. C. Social Security benefits paid by the federal government. D. the salary paid to an elementary school teacher employed by a local public school district.
Which of the following statements is true?
A) Exponential growth refers to growth by the same amount in every time period. B) To depict variables that have exponential growth, it is more convenient to use an axis with a proportional scale. C) Linear growth refers to growth by the same proportion in every time period. D) To depict variables that have exponential growth, it is more convenient to use an axis with a linear scale. Consider two countries: country A and country B. At the beginning of year 2010, the GDP per capita in both countries is $2,400. The annual growth rate of output in country A is 3%, while the annual growth rate of output in country B is 5%.