Which of the following is an example of economies of scale?
a. Output remaining constant when the number of workers increases from 50 to 100
b. Output increasing from 500 units to 600 units when the number of workers increases from 50 to 100
c. Output increasing from 500 units to 1,500 units when the number of workers increases from 50 to 100
d. Output increasing from 500 units to 900 units when the number of workers increases from 50 to 100
c
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A currency depreciation
A. reduces aggregate demand and increases aggregate supply. B. reduces aggregate demand and aggregate supply. C. increases aggregate demand and reduces aggregate supply. D. increases aggregate demand and aggregate supply.
In 2012 the federal budget was almost
A. 1 million pages long. B. 17 pages long. C. 1,300 pages long. D. 500 pages long.
Changing the price of good Y will
A. only affect the demand for that good. B. have effects across some markets. C. keep prices down in all markets. D. have no effect.
The Herfindahl-Hirschman Index is used to measure
A) brand recognition. B) the ease of market entry. C) market power. D) none of these choices.