The shape of the long-run average cost curve reflects
a. market demand
b. economies and diseconomies of scale
c. increasing and diminishing marginal returns
d. productivity of fixed inputs
e. all of the above
B
Economics
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Which of the following is not included in the investment category under the expenditure approach to GDP accounting?
a. newly constructed residential housing b. factory buildings c. stocks and bonds d. additions to inventory
Economics
In Country A, the government introduced printed pieces of paper that promise to pay the bearers a certain amount of money. People of the country started using the pieces of paper as a medium of exchange. In this country, the printed paper is an example of: a. near money
b. fiat money. c. fiduciary money. d. commodity money.
Economics