The flexibility of a firm's techniques of production is an important determinant of its costs.
Indicate whether the statement is true or false.
Answer: True.
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If a country had a CPI of 105.0 last year and a CPI of 102.0 this year, then
A) the average prices of goods and services increased between last year and this year. B) the average prices of goods and services decreased between last year and this year. C) the average quality of goods and services decreased between last year and this year. D) there was an error when calculating the CPI this year. E) the quantity of consumer goods and services produced decreased between last year and this year.
When a depository institution pools risk, it
A) buys short and lends long. B) borrows reserves from the Federal Reserve. C) spreads loan losses across many depositors so that no one depositor faces a high degree of risk. D) makes loans to just one firm.