What is the firm experiencing when LRATC does not vary with output?
a. economies of scale
b. flexibilities of scale
c. constant returns to sale
d. diseconomies of scale
c. constant returns to sale
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The fraction of deposits that banks are required by law to hold and not lend out are called its
A) required reserves. B) net worth. C) excess reserves. D) reserves.
Import quotas and tariffs make domestic sellers better off and domestic buyers worse off
a. True b. False Indicate whether the statement is true or false
The short-run aggregate supply (SRAS) curve shows the quantity
A) demanded of all goods and services at different price levels, ceteris paribus. B) supplied of all goods and services at a particular price level, ceteris paribus. C) supplied of all goods and services at different price levels, ceteris paribus. D) supplied of GDP at a particular price level, ceteris paribus.
Which of the following does NOT contribute to the marginal productivity of workers?
A. discrimination B. experience C. education D. talent