Income distribution moved toward greater inequality in the 1920s after World War I (1914–18) had witnessed a movement toward greater equality

Economies of scale

a. require a change in the size of operations and therefore is a long-run consideration b. require a more intensive use of existing plant and therefore is a short-run consideration c. means that a doubling of plant size will double output d. require a change in the size of plant and therefore is a short-run consideration e. require a more intensive use of existing plant and therefore is a long-run consideration

When aggregate demand declines, wage rates may be inflexible downward, at least for a time, because of:

A. the foreign purchases effect. B. inflexible product prices. C. wage contracts. D. the wealth effect.