The increase in spending that occurs because domestic goods become cheaper relative to foreign goods when the price level falls is known as the

Doubling the circumference of an oil pipeline more than doubles the volume of oil that can be pumped through. This is an example of

a. production inefficiency b. diminishing marginal returns c. diseconomies of scale d. constant returns to scale e. economies of scale

When faced with an economic loss, a competitive firm will shut down its operations in the short run

a. True b. False Indicate whether the statement is true or false