All of these could be sources of economies of scale except
a. Investment in more efficient technology
b. Specialization
c. A bottleneck procedure
d. Discounts on bulk purchase of inputs
c
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Refer to Table 9-16. Looking at the table above, real wages ________ from 2014 to 2015, and real wages ________ from 2015 to 2016
A) fell; fell B) fell; rose C) rose; fell D) rose; rose
People behave rationally when they
A) follow the advice of government leaders. B) never have regrets about their decisions. C) make decisions they think will make themselves better off. D) make decisions solely based on financial outcomes.
The Federal Reserve System is a(n)
a. corporation owned by its member banks. b. independent branch of the U.S. government. c. corporation owned by the government and member banks. d. agency created by presidential executive order.
Which of the following would cause the money supply in the United States to expand?
A. a decrease in reserve requirements B. an increase in the discount rate C. the sale of U.S. government bonds by a Federal Reserve bank D. an increase in the world supply of gold