Refer to Table 11-8. Elegant Settings experiences
A) increasing returns beyond an output level of 400.
B) economies of scale up to an output level of 400.
C) diminishing returns up to an output level of 400.
D) economies of scale at an output of 300 or less and diseconomies of scale at an output level above 400.
D
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A good that is rival but nonexcludable is a ________
Fill in the blank(s) with correct word
Suppose there is proposed legislation that would subsidize the domestic commercial aircraft manufacturing industry in the U.S., to be funded with a new 1 percent national sales tax. Which of the following categories best fits this proposed legislation?
a. Traditional public goods legislation b. Special-interest legislation c. Competing-interest legislation d. Populist legislation
If expected inflation increases, the same level of unemployment will be associated with:
A. a lower rate of inflation. B. the same rate of inflation. C. a higher rate of inflation. D. no inflation.
The Federal Reserve could reduce the money supply by:
A. Lowering the required reserve ratio B. Buying government bonds in the open market C. Increasing the interest on reserves D. Reducing the discount rate