What are economies of scope?
a. the cost of producing two products jointly by one firm is more than the cost of producing them separately
b. the cost of producing two products jointly by one firm is lesser than the cost of producing them separately
c. the cost of producing two products jointly by one firm is equal to the cost of producing them separately
d. none of the above
b
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A decrease in the reserve requirement will cause a decrease in the money multiplier.
a. true b. false
The "zero sum" society is
A) a society that has reached its limit in population growth and has placed quotas on its birth rate. B) a society where the rate of growth of GDP minus the inflation rate equals zero. C) a society in which the fluctuations of GDP around the natural level of output sum to zero. D) a society with no productivity growth in which any additional good enjoyed by one person requires that something be taken away from someone else.