If long-run costs are plotted on the vertical axis and quantity of output plotted on the horizontal axis, a positively sloped line implies _____
a. constant returns to scale
b. economies of scale
c. diseconomies of scale
d. an increase in capital-labor ratio
e. a decrease in cost-output ratio
c
Economics
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Which of the following correctly describes what the Fed used as monetary targets in the past?
A) The Fed used M1 and M2 as targets after 1993. B) After 1980 and before the 1990s, the Fed focused on interest rate targets. C) The Fed focused on M1 as a target after deregulation of the financial markets. D) The Fed increased its reliance on interest rate targets since the mid-1990s.
Economics
The Laffer curve belongs to which of the following schools of economic thought?
a. Keynesian. b. Supply-side. c. Demand management. d. Classical.
Economics