A decrease in long-run average costs resulting from increases in output is
A. attributed to the law of diminishing marginal product.
B. attributed to constant returns to scale.
C. attributed to economies of scale.
D. attributed to diseconomies to scale.
Answer: C
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Answer the following statement(s) true (T) or false (F)
1. The RCRA Amendments of 1984 continued to promote land disposal for hazardous wastes. 2. Identification of hazardous wastes under the law relies on risk-benefit analysis. 3. Standards on treatment, storage, and disposal facilities (TSDFs) are set to achieve allocative efficiency. 4. The land restrictions may act to provide an incentive to reduce hazardous waste generation. 5. A waste-end charge is a fee based on the quantity of waste generated that is imposed at the time of disposal.
Monetary policy refers to
A) actions taken by banks and other financial institutions regarding their approaches to lending, account management, etc. B) changes in the money supply to achieve particular economic goals. C) changes in government expenditures and taxation to achieve particular economic goals. D) the change in private expenditures that occurs as a consequence of changes in the money supply.
When domestic prices rise,
A. people buy fewer imported goods. B. people buy more imported goods. C. interest sensitive consumption rises. D. exports rise.
The Economic Stimulus Act of 2008:
A. provided about $152B in economic stimulus, primarily through checks sent to households. B. provided about $152B in economic stimulus, primarily through tax cuts to businesses. C. provided about $152B in economic stimulus, primarily through checks sent to banks that had made mortgage loans. D. provided about $600B in economic stimulus, primarily through checks sent to households.