Assume that political business cycles do not exist. Given this assumption, we would expect, all else fixed, the output growth to be highest in which period?
A) just prior to an election
B) just after an election
C) in the first year of an administration
D) in the second year of an administration
E) none of the above
E
Economics
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Diseconomies of scale occur when
A) long-run average costs rise as a firm increases its output. B) long-run average costs fall as a firm expands its plant size. C) short-run average costs rise as a firm expands its plant size. D) long-run labor costs rise as a firm increases its output.
Economics
Figure 18-1
According to the graph in Figure 18-1, the tax is which of the following?
A. 400 B. 600 C. 1,000 D. 200
Economics