The long-run average cost curve may initially slope downward due to
A) decreasing average fixed costs.
B) increasing marginal returns.
C) economies of scale.
D) All of the above.
C
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Social insurance taxes are paid by wages and investment income
Indicate whether the statement is true or false
If country A has a larger trade triangle than country B, reciprocal demand will lead to an increase in the relative price of A's imports
Indicate whether the statement is true or false
Depletion of tropical rainforests is an example of
a. a negative externality b. the use of variable technology c. adverse selection d. the use of fixed technology e. a clearly defined property right
The process by which new products and methods of production are continuously replacing old ones is known as
a. the invisible hand principle. b. the production possibilities frontier. c. creative destruction. d. the fallacy of composition.