Which of the following may lead to diseconomies of scale?
a. Specialization on the basis of comparative advantage
b. Lack of coordination among the division heads
c. Using larger and more efficient machineries
d. Division of labor on the basis of capability
e. Specialization of marketing, pricing, and research
b
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Costs that tend to deter firms from changing their prices in response to changes in the market equilibrium price are referred to as
A) large menu costs. B) small menu costs. C) real menu costs. D) burden costs.
Over the past two decades, the rate of growth of public education spending has been
a. considerably higher than the rate of growth of GDP b. slightly higher than the rate of growth of GDP c. the same as the rate of growth of GDP d. considerably lower than the rate of growth of GDP e. slightly lower than the rate of growth of GDP
As long as money serves as a medium of exchange, it also serves as a store of wealth.
Answer the following statement true (T) or false (F)
Because a change in consumer spending is positively related to a change in income, the slope of the aggregate demand function is:
a. 0. b. 1. c. equal to the MPC. d. equal to the marginal propensity to save.