Diseconomies of scale are associated with
A. an upward-sloping long-run average cost curve.
B. a horizontal long-run average cost curve.
C. a downward-sloping long-run average cost curve.
A. an upward-sloping long-run average cost curve.
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Refer to Figure 24-1. Ceteris paribus, an increase in households' expectations of their future income would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
The life-cycle hypothesis predicts there to be a rather ________ short-run multiplier and thus a rather ________ private economy
A) low, unstable B) low, stable C) high, unstable D) high, stable
Every economic choice has an opportunity cost
a. True b. False Indicate whether the statement is true or false
When a $1,000 check written on the Chase Bank is deposited in an account at the Bank of America the:
a. Liabilities of Chase fall by $1,000. b. Reserve assets of Chase increase by $1,000. c. Liabilities of the Bank of America fall by $1,000. d. Reserves of the Bank of America fall by $1,000. e. All the above.