Larger firms will often have lower minimum per-unit costs than smaller firms because
a. employee shirking is less of a problem.
b. large-scale output allows greater specialization for both labor and machines in the production process.
c. mass production techniques, with high setup and development costs, are appropriate only when a small output is planned.
d. all of the above are correct.
B
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From the time of Benjamin Franklin to the present, the percentage of the average American's income that goes to pay taxes has
a. decreased from about 20 percent to about 10 percent. b. remained constant at about 10 percent. c. has risen from less than 2 percent to about 33.3 percent. d. has risen from less than 5 percent to about 25 percent.
For interest rates to remain stable during economic contractions, the money supply would have to grow at the same rate as the demand for money
Indicate whether the statement is true or false