Diseconomies of scale are associated with
a. Inefficiencies
b. Cost reduction
c. Improvement in technology
d. Division of labor
a
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All of the following are examples of risky mortgages that became more common in the 2000s EXCEPT
A) alt-A mortgages. B) adjustable-rate mortgages with low rates for a few years and then higher rates in later years. C) mortgages requiring down payments of at least 20%. D) subprime mortgages.
An increase in supply, other things being equal, will cause which of the following to occur?
A) quantity supplied to decrease. B) quantity demanded to increase. C) a rightward shift in the demand curve as the price falls. D) a leftward shift in the demand curves as the price increases.
In long-run full-employment equilibrium, which of the following is true? a. The CPI equals AD equals the peak of the production function curve
b. The horizontal LRAS curve equals the intersection of the demand and supply curves inthe labor market. c. The CPI equals the aggregate production function at the equilibrium wage rates. d. The CPI equals AD equals SRAS equals LRAS.
Workers in industrial countries earn much higher wages than workers in developing countries because:
a. the industrial countries are labor rich and capital poor economies. b. the industrial countries lack a steady supply of unskilled laborers. c. the industrial countries produce labor intensive goods. d. the marginal productivity of labor is low in the industrial economies. e. the marginal productivity of labor is high in the industrial economies.