If you remove resources from factory production, the quantity of factory goods will:
A. increase.
B. decrease.
C. remain the same but their price will decrease.
D. be diverted to other production.
Answer: B
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Which statement most accurately describes the effect financial technology has had on the demand for money in the United States?
A) Advances in financial technology have all increased the demand for money. B) Some advances in financial technology have increased the demand for money while others have decreased it. C) It is not possible to tell what would be the effect because financial technology has not changed over the past three decades. D) Advances in financial technology have all decreased the demand for money. E) Advances in financial technology have had no effect on the demand for money.
Economies of scale
A) lead to rising long-run average costs as output increases. B) occur if output more than doubles when all inputs are doubled. C) occur if output less than doubles when all inputs are doubled. D) occur when management complexity brings rising average cost.