Economies of scale are created by greater efficiency of capital and by:
a. longer chains of command in management.
b. better wages for labor.
c. smaller plant sizes.
d. increased specialization of labor.
d
Economics
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For this question, assume that expectations of productivity are slow to adjust. Further assume that A had been increasing by 6% a year. Now suppose that A only increases by 2% in period t. This slowdown in productivity growth will cause
A) the PS relation to shift up more than the WS relation. B) the WS relation to shift up more than the PS relation. C) the natural rate of unemployment to fall. D) the real wage to fall.
Economics
Higher interest rates will tend to reduce aggregate demand, other things being equal
a. True b. False Indicate whether the statement is true or false
Economics