If the minimum points on all the possible short-run average total cost curves become successively lower as quantity of output increases, then
a. the firm should try to produce less output
b. total fixed costs are constant along the LRATC curve
c. there are economies of scale
d. the firm is probably having significant management problems
e. when output is doubled, total costs are doubled
C
Economics
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Which of the following would cause the U.S. money supply to expand?
a. a commercial bank calling in a loan to build up more excess reserves b. a commercial bank purchasing U.S. securities from the Fed as an investment c. a decrease in reserve requirements d. an increase in the discount rate
Economics
A nation can determine how close it is to the classical range by considering its:
a. Employment rate. b. Net export position. c. Exchange rate d. None of the above.
Economics