Between 1960 and 2012, the share of federal spending allocated to national defense
a. declined sharply, while the share allocated to health care increased substantially.
b. rose sharply, while the share allocated to health care declined substantially.
c. was relatively constant, while the share allocated to health care declined modestly.
d. declined modestly, while the share allocated to health care was relatively constant.
A
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If a firm experiences increasing returns to scale at all levels of output: a. the slope of its long-run total cost curve is everywhere negative
b. the slope of its short-run average cost curve is everywhere negative. c. the slope of its long-run average total cost curve is everywhere negative. d. the slope of its production function is everywhere negative.
Price floors and price ceilings
a. lead to the same prices and quantities that would be found in a competitive market b. lead to technical efficiency c. cause the demand curve to shift to the left d. usually result from government intervention e. cause the supply curve to shift to the right