Government can play a major positive role in the early stage of economic development by:
A. Providing an adequate infrastructure
B. Establishing price controls for products
C. Promoting exports by subsidizing them
D. Creating marketing boards for export products
A. Providing an adequate infrastructure
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The short-run average total cost, average variable cost, and marginal cost curves are all U-shaped because of
i. constant total fixed cost. ii. increasing and then decreasing marginal returns as more labor is hired. iii. economies and diseconomies of scale as the plant size increases. A) only i B) only ii C) i and iii D) ii and iii E) i, ii, and iii
The demand for money curve shows
A) the quantity of money demanded at each interest rate, holding all other determinants unchanged. B) the quantity of money made available by the Federal Reserves, holding all other determinants unchanged. C) the quantity of money demanded at each bond price, holding all other determinants unchanged. D) the quantity of money demanded at price level, holding all other determinants unchanged.