A depreciation of the U.S. dollar makes American goods cheaper relative to foreign goods, resulting in a ________ in net exports in the U.S. and a ________ shift of the IS curve in the U.S., everything else held constant

If Quick Auto Service increases the size of its shop, enabling it to purchase cost-saving capital equipment so that the cost of servicing a car falls, this would be an example of

A) economies of scope. B) economies of scale. C) monitoring. D) increasing transactions costs.

Which of the following statements about agriculture in the U.S. is correct?

a. From the 1950s to today, agricultural output has approximately doubled. b. Because technological improvements increase the supply of a product for which demand is inelastic, an individual farmer would be better off not adopting the new technology. c. Increasing the supply of agricultural products typically benefits consumers but harms farmers. d. Technological improvements typically increase both supply and revenue for individual farmers.