Diminishing marginal returns are the reason why some industries have positively-sloped long-run average cost curves

A U.S. company that wishes to sell more to other countries would favor

A) an appreciation of the dollar. B) a depreciation of the dollar. C) neither an appreciation nor a depreciation of the dollar. D) higher interest rates.

A reduction of the discount rate by the Federal Reserve Banks has the direct effect of

A) making it less costly for commercial banks to borrow from the Fed. B) making it more costly for the Treasury to finance deficits. C) increasing commercial bank reserves. D) increasing the stock of money. E) doing all of the above.