A firm is experiencing ________ on the downward-sloping portion of a firm's long run average cost curve.
A. constant returns to scale
B. diminishing marginal returns
C. increasing returns to scale
D. decreasing returns to scale
Answer: C
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An upward-sloping trend line depicts long-run economic growth
Indicate whether the statement is true or false
The most effective and frequently used tool the Fed has to increase or decrease the economy's money supply is
a. open market operations b. changes in the legal reserve requirement c. changes in the discount rate d. changes in the federal funds rate e. moral suasion
Which of the following was not a lesson from the 2007-2009 financial crisis?
a. Regulatory failures were the result of weaknesses across the regulatory structure. b. The financial system operated with too much leverage. c. The business cycle no longer applies to economic analysis. d. Monetary policy alone may not be sufficient to stabilize aggregate demand.
What are the characteristics of monopolistic competition?
What will be an ideal response?