Refer to the graph shown. The output range in region a is associated with:
A. constant returns to scale.
B. diseconomies of scale.
C. economies of scale.
D. increasing marginal productivity.
Answer: C
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If total revenue exceeds the total cost of production, a firm
A. shuts down. B. breaks even. C. earns a profit. D. suffers a loss.
Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080What is the minimum a sweater would be traded for in this example?
A. 1/3 of a scarf B. 1/2 of a scarf C. 3 scarves D. 2 scarves
Monetary regimes:
A. rely on the discretion of monetary policy officials. B. produce greater variation in expected inflation than individual monetary policies. C. use predetermined rules to set monetary policy. D. do not set policy on the basis of a predetermined framework.
From 1990 to 2013, mortality under age 5 has ________ and the literacy rate has ________ .
A. increased; increased B. decreased; decreased C. decreased; increased D. increased; decreased