Diseconomies of scope occur when:
A. a firm's input prices rise as it increases output.
B. a firm's average cost of production rises as it increases production.
C. producing two products in a single firm is more expensive than producing them in separate firms.
D. a firm's average cost of production falls as it increases production.
C. producing two products in a single firm is more expensive than producing them in separate firms.
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A lower real interest rate ________ saving and ________ consumption spending.
A. increases; increases B. does not change; does not change C. increases; decreases D. decreases; increases
If the demand for liquor is elastic and the supply of liquor is inelastic, when the government increases liquor tax, _____
a. most of the tax will be paid by the consumer b. most of the tax will be paid by the producer c. all of the tax will be paid by the consumer d. all of the tax will be paid by the producer e. the tax will be paid by the retailer
Incentives for borrowers and savers in the loanable funds market are determined by the nominal interest rate as opposed to the real interest rate
a. True b. False Indicate whether the statement is true or false
There have been no major banking panics in the U.S. since the creation of the Federal Reserve System
a. True b. False