When the Fed increases the money supply and creates inflation, it erodes the real value of the unit of account and makes it more difficult for investors to sort successful from unsuccessful firms

As output increases, economies of scale occur when the

A) long-run average cost increases. B) long-run average cost decreases. C) short-run average total cost decreases. D) long-run average cost stays constant. E) long-run fixed cost decreases.

One of the board members is appointed to a __ year, renewable term as the chairman

A. 6 B. 4 C. 7