The sustained productivity growth of railroads occurred primarily because of:
a. increased economies of scale.
b. more powerful locomotives and more efficient freight cars.
c. stronger steel rails.
d. the advent of refrigerator cars.
a. increased economies of scale.
You might also like to view...
In the long run, perfectly competitive firms make zero economic profit. This result is due mainly to which of the following assumptions?
A) few buyers and sellers B) unrestricted entry and exit C) firms must act as price takers D) demand for the firm's output is perfectly elastic
Many health economists believe that health-care reform will:
a. decrease demand for new, better, and more expensive medical advances. b. lower premiums for young adults c. eliminate private health insurance entirely. d. have a very limited effect on reducing government health-care expenditures.
The massive deficit in the U.S. current account primarily reflects the
A. excess of foreign investment in the U.S. over domestic private investment. B. excess of U.S. exports over U.S. imports. C. transfers of money home by U.S. citizens working in other countries. D. excess of U.S. imports over U.S. exports.
Today, no country fixes its currency to gold.
Answer the following statement true (T) or false (F)