A firm reaches the minimum efficient scale in the short run.
Answer the following statement true (T) or false (F)
False
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The cost that a firm incurs as a consequence of owning an asset is known as
A. accelerated depreciation. B. expensing. C. user cost of capital. D. economic depreciation.
If unskilled labor is relatively plentiful and cheap in many foreign countries, then as the United States expands its trade with these foreign countries, the domestic demand for
a. unskilled labor will rise and skilled labor will fall. b. skilled labor will rise and unskilled labor will fall. c. both skilled and unskilled labor will rise proportionately. d. both skilled and unskilled labor will be unaffected, assuming no barriers to free trade.
Classical economists are more likely than Keynesian economists to focus more on _____
Fill in the blank(s) with the appropriate word(s).
The excise tax on gasoline is an example of a tax based on the ability-to-pay principle
a. True b. False