In the theory of economic development, the competing strategy to the big-push is
a. unbalanced development with forward and backward linkages
b. supply and demand
c. balanced economic development
d. real and money investments
e. government spending (financed by taxes)
A
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If economies of scale are present, a firm can enhance its profits by
a. operating at any larger scale. b. operating at any larger scale up to the optimal scale. c. operating beyond the optimal scale. d. operating at a lower scale.
Something is valuable if:
A. it does not involve a trade-off. B. it is a good or a service. C. someone wants it. D. it was made using resources.
Which of the following constitutes an implicit cost to the Johnston Manufacturing Company?
A. Payments of wages to its office workers. B. Rent paid for the use of equipment owned by the Schultz Machinery Company. C. Use of savings to pay operating expenses instead of generating interest income. D. Economic profits resulting from current production.
Purchasing power parity does not hold in the short to medium run because
A. some goods aren't internationally traded. B. exports don't equal imports. C. most business cycles are caused by shocks to aggregate demand. D. exchange rates fluctuate too much.