Under which conditions might economies of scale result?
A. hampered coordination brought about by bureaucracy
B. increasing costs of inputs
C. increasing output prices
D. workers having to spend less time switching back and forth between tasks.
Answer: D
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The "division of labor" refers to
a. discrimination in labor markets b. separating a job into smaller tasks completed by different people c. one worker who divides his time among different jobs and duties d. defining a job according to the appropriate sex e. the fact that two 20-year-olds are more productive than one 40-year-old
If a major technological breakthrough occurs, then the:
a. investment demand curve will shift downward. b. investment demand curve will shift upward. c. consumption function will shift downward. d. consumption function will shift upward. e. economy will move to a new point along the existing investment demand curve.
If California were a separate economy, it would be the ____ largest economy on earth
a. second b. third c. fifth d. eighth
International investors are more likely to invest in countries
A. where there are barriers to the ownership of capital goods. B. where there is a significant amount of dead capital. C. where it is relatively easier to establish property rights to capital goods. D. which have a high amount of government inefficiency.