When a firm experiences economies of scale, its ________ cost curve slopes ________ as output increases
A) long-run average; downward
B) short-run average total; downward
C) short-run marginal cost; downward
D) long-run average; upward
A
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Of the two economic growth theories, which is the most optimistic about the chances of real GDP per person growing indefinitely? Which is the most pessimistic? What accounts for the differences?
What will be an ideal response?
Which of the following statements is (are) correct?
a. Both the monetarists and classicists agree that output is completely supply determined, even in the short run b. The monetarists do not agree with the classical position that monetary policy cannot be used to influence output. c. According to both the monetarists and the classicists, output is determined by demand side factors in the short run d. None of the above
What would be the actuarially fair premium for an insurance policy that pays $1,000 in the event of a loss that has a 25% chance of occurring?
A. $250 B. $750 C. $1,250 D. $500
The BRAC anti-poverty program in Bangladesh gave poor families training on how to raise livestock, a savings account, and help with their physical and mental health. These policies can potentially improve economic growth by increasing a. education, savings, and human capital, respectively. b. physical capital, savings, and natural resources, respectively
c. property rights, research and development, and human capital, respectively. d. education, research and development, and natural resources, respectively.