Which of the following actions has the best potential for experiencing economies of scope?
A) producing a product that has appeal to a wider segment of the market
B) producing computers and software
C) producing spaghetti and soft drinks
D) producing cars and trucks
D
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Which of the following would cause the money supply in the United States to decrease?
a. An increase in reserve requirements b. A decrease in the discount rate c. A purchase of U.S. government bonds by the Federal Reserve d. An increase in the world supply of gold
Which of the following is included in personal income but not in national income?
a. compensation for workers b. proprietors' income c. corporate profits d. Social Security payments e. rent
A "liberal" would most likely argue in favor of
a. tax increases when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary. b. tax cuts when fiscal restraint is necessary, and spending cuts when fiscal stimulus is necessary. c. tax cuts when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary. d. spending increases when fiscal expansion is necessary, and tax increases when fiscal restraint is necessary.
An increase in real per capita income will generally lead to
a. a cleaner environment and more time for recreation. b. a reduction in life expectancy because working conditions are less desirable. c. an increase in the number of hours worked by residents. d. an increase in real GDP that is less rapid than the increase in population