In the long run,
A) unemployment is at its natural rate. B) GDP > potential GDP.
C) LRAS and SRAS lie on the same line. D) the inflation rate is zero.
A
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In which of the following cases will centralization of decision making be appropriate?
a. When different departments in an organization function separately without much interrelation. b. When information necessary for the decision making process originates from a variety of sources. c. When the organization expands in size and its activities become more complex. d. When all the information comes from an external source.
Economies of scale suggests that as the level of production:
a. decreases, the average cost of producing each individual unit increases. b. increases, the average cost of producing each individual unit increases. c. decreases, the average cost of producing each individual unit declines. d. increases, the average cost of producing each individual unit declines.