The process a firm uses to turn inputs into outputs of goods and services is called technology
Indicate whether the statement is true or false
TRUE
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For a given pair of production outputs, the degree of economies of scope:
A) is constant across different output levels. B) only increases as the level of output increases. C) may increase or decrease with output. D) will always tend to zero as output becomes very large.
The Federal Open Market Committee was established to give the Fed the power to change reserve requirements
a. True b. False Indicate whether the statement is true or false
Refer to the accompanying figure. For Pat, the opportunity cost of planting one bulb is removing: 
A. 5 bags of trash. B. 1/20 of a bag of trash. C. 20 bags of trash. D. 1/5 of a bag of trash.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.