Diseconomies of scale are also known as
a. Increasing returns to scale
b. Decreasing returns to scale
c. Constant returns to scale
d. None of the above
b
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All else equal, a decrease in the demand for oranges will lead to a(n) ________ in equilibrium price and a(n) ________ in equilibrium quantity.
A. increase; decrease B. decrease; decrease C. increase; increase D. decrease; increase
Bob plans to spend $60 per month on DVD movie rentals and CDs. The price of a movie rental is $3 and the price of a CD is $15. If Bob rents 5 DVDs per month, how many CDs can he buy?
A) 1 B) 2 C) 3 D) 4
When the Fed purchases government securities, it:
a. increases banks' reserves and makes possible an increase in the money supply. b. decreases banks' reserves and makes possible a decrease in the money supply. c. automatically raises the discount rate. d. uses discounting operations to influence margin requirements. e. has no effect on either the money supply or the discount rate.
Which of the following would not be considered a "leisure" activity by economists?
A. Cleaning the bathroom floor B. Making a work call. C. Making dinner D. Going skiing