Decreasing returns to scale is strictly a short run phenomenon for firms.
Answer the following statement true (T) or false (F)
False
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Which of the following would be most likely to cause a reduction in current aggregate demand in the United States?
a. Increased business optimism about the future. b. The economies of key trading partners fall into a recession. c. A sharp increase in the value of stocks owned by Americans. d. An increase in the expected rate of inflation.
The purchases made by the foreign sector are called __________; the purchases made by the household sector are called __________; the purchases made by the government sector are called __________; and the purchases made by the business sector are called investment
A) net exports; consumption; net interest B) net exports; domestic spending; government purchases C) net exports; consumption; government purchases D) exports; domestic spending; government product E) imports; consumption; government expenditures
Answer the following questions true (T) or false (F)
1. A prisoner's dilemma leads to a noncooperative equilibrium. 2. A member of a cartel earns more profits by producing more than its quota and selling at a price higher than the cartel's price. 3. Collusion is common in oligopoly and monopolistically competitive industries.
The market in which the equilibrium level of the interest rate is determined is the
A) money market. B) goods market. C) labor market. D) services market.