Refer to the graph shown. The output range in region b is associated with:
A. diseconomies of scale.
B. diminishing marginal productivity.
C. constant returns to scale.
D. economies of scale.
Answer: C
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One reason most central bankers do not set an inflation target of zero is:
A. they believe it would cause price volatility. B. it is almost impossible to achieve. C. the central bank could hit the lower bound. D. none of the answers given is correct.
Number of FigsVCMCAVCFCTCATC0???100??19090????2?????1353??80???4????400?Table 8.4Table 8.4 presents the cost schedule for David's Figs. If David produces four figs, David's average total costs are:
A. $60. B. $75. C. $100. D. $400.
You do not worry about how your bank is investing your money because your deposits are federally insured. This is an example of:
A. a positive spillover. B. moral hazard. C. adverse selection. D. irrational behavior.
Which of the following is an example of the "shoe-leather costs" of inflation?
A) a rise in the cost of primary raw materials, like leather for shoes B) an artificial rise in the capital gains tax C) the need to take more trips to the bank D) miscalculations due to money illusion E) All of the above