As savings grow in an economy, economic growth rises
a. True
b. False
Indicate whether the statement is true or false
True
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If input prices are constant, a firm with increasing returns to scale can expect
A) costs to double as output doubles. B) costs to more than double as output doubles. C) costs to go up less than double as output doubles. D) to hire more and more labor for a given amount of capital, since marginal product increases. E) to never reach the point where the marginal product of labor is equal to the wage.
The Dodd-Frank bill led to the financial meltdown of 2008
Indicate whether the statement is true or false
If workers expect inflation, and tend to overestimate actual inflation when they negotiate wage increases, the result will be a continuing
A. shift of AD to the left. B. shift of AD to the right. C. recessionary gap. D. inflationary gap.
When an increase of a firm's scale of production leads to higher average costs per unit produced, there is an increasing return to scale.
Answer the following statement true (T) or false (F)