An international producer is trying to centralize its R&D. This is consistent with it trying to
a. Set up a functional division
b. Take advantage of the economies of scale
c. Take advantage of the learning curve effect
d. All of the above
d
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
The certainty equivalent is less than the expected value of a gamble when tastes are risk averse.
Answer the following statement true (T) or false (F)
The higher the cost of acquiring skills, the ________ are the high-skilled and low-skilled labor ________ curves
A) closer together; demand B) farther apart; demand C) closer together; supply D) farther apart; supply
The multiple changes in income and output that results from a change in autonomous expenditure is called the multiplier
Indicate whether the statement is true or false