Internal economies of scale arise when the cost per unit
A) falls as the average firm grows larger.
B) rises as the industry grows larger.
C) falls as the industry grows larger.
D) rises as the average firm grows larger.
E) remains constant over a broad range of output.
A
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If the CPI is used as a cost of living index, incomes that are adjusted to reflect the changes in the CPI will
A) increase by more than the actual change in the cost of living. B) decrease by more than the actual change in the cost of living. C) increase by more than the actual change in quantities. D) decrease by more than the actual change in quantities. E) generally rise by about 2 percent a year because the standard of living generally rises by about 2 percent a year.
Why do banks create money? Do they create money to help the Federal Reserve control the money supply or is there a more basic reason?
What will be an ideal response?